Escario, Regina; Gadea, María Dolores; Sabaté, Marcela - Facultad de Economía y Empresa, Universidad de Zaragoza - 2009
The concept of multicointegration allows to test the sustainability of public finances by assessing dynamic equilibrium relationships between flow and stock variables. This paper focus on the very long-run Spanish case, characterized by the more or less intensive use of monetization to offset...