Cyclical characteristics of the Spanish economy in the period 1980-2005

Eva Ferraz and Eva Ortega

Economic Bulletin, 2007, issue JAN, No 3, 89-97

Abstract: In the past, various studies have explored empirically the main stylised facts of the cyclical behaviour of the Spanish economy. However, the cyclical regularities found may have been affected by the publication in 2005 of new National Accounts estimates, with base year 2000 (CNE-2000). These estimates involve notable methodological changes, such as chain linking and the use of new estimation procedures and statistical sources [see Banco de España (2005)], along with the incorporation of data on the latest economic developments, which show a prolonged expansion of activity. Accordingly, it is worth examining the characteristics of the behaviour of the Spanish economy in recent decades in the light of this new evidence, and analysing the stability of these patterns over time.

Date: 2007
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