Showing 1 - 10 of 21
The paper first reviews the budget identities of the fiscal and monetary authorities and the solvency constraint or present value budget constraint of the consolidated public sector, for both closed and open economies. It then discusses the new conventional wisdom concerning the fiscal roots of...
Persistent link: https://www.econbiz.de/10005666524
Monetary theory and policy are part of intertemporal public finance. This Paper reviews some interesting recent developments. The two ghosts are the venerable liquidity trap and the Pigou effect or real balance effect. The eccentricities are negative nominal interest rates and the helicopter...
Persistent link: https://www.econbiz.de/10005123549
This paper investigates the determinants of trends in Spain's industrial exports to other Community countries by using … influence of advertising expenditure and, to a lesser extent, technological effort on Spain's industrial export performance. …
Persistent link: https://www.econbiz.de/10005498106
This study explores the effect of several personal religion-related variables on social behaviour, using three paradigmatic economic games: the dictator (DG), ultimatum (UG), and trust (TG) games. A large carefully designed sample of a Spanish urban adult population (N=766) is employed. From...
Persistent link: https://www.econbiz.de/10011083371
government. We estimate the model using 1995Q1-2013Q2 data for Spain, the rest of the Euro Area (REA) and the rest of the world … for Spanish households and firms, as well as a fall in the interest rate spread between Spain and the REA fuelled the … Spanish output boom and the persistent rise in foreign capital flows to Spain, before the global financial crisis. During and …
Persistent link: https://www.econbiz.de/10011083472
this paper for the particular case of Spain, a fast growing country in the second half of the twentieth century. It is …
Persistent link: https://www.econbiz.de/10011084295
honour his debts four times during his reign. In this paper, we reassess the fiscal position of Habsburg Spain. New archival … make the king's debt sustainable for most of his reign. Spain's debt burden was manageable up to the 1580s, and its fiscal … functions, and show that Spain under the Habsburgs was at least as "responsible" as the US in the 20th century or as Britain in …
Persistent link: https://www.econbiz.de/10005656157
This paper provides a conceptual framework to analyze the main economic issues raised by Spain's integration into the … described as a major anticipated permanent shock with both real and financial consequences. In the case of Spain it is found …
Persistent link: https://www.econbiz.de/10005661542
institutional and macroeconomic features as the ultimate explanations of Spain's post-war growth performance. The following main … relative stagnation of the transition from Franco's dictatorship to democracy (1975-85), which ended with Spain's membership of …
Persistent link: https://www.econbiz.de/10005666440
In this paper we analyse the underlying causes behind Spanish unemployment which is now at 24%. We interpret this unfortunate outcome as the result of a series of adverse shocks, compounded by disinflationary policies and by a flawed system of labour market institutions. Our aim is to explain...
Persistent link: https://www.econbiz.de/10005667046