Deficit sustainability, and monetary versus fiscal dominance: The case of Spain, 1850–2000

Oscar Bajo-Rubio (), Carmen Diaz-Roldan and Vicente Esteve

Journal of Policy Modeling, 2014, vol. 36, issue 5, 924-937

Abstract: In this paper, we provide a test of the sustainability of the Spanish government deficit over the period 1850–2000, emphasizing the role played by monetary and fiscal dominance in order to get fiscal solvency. Since the condition of fiscal solvency was satisfied, government deficit would have been sustainable along the sample period. In addition, the whole period can be characterized as one of fiscal dominance.

Keywords: Fiscal policy; Sustainability; Fiscal theory of the price level; Monetary dominance; Fiscal dominance (search for similar items in EconPapers)
JEL-codes: E62 H62 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

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Related works:
Working Paper: GOVERNMENT DEFICIT SUSTAINABILITY, AND MONETARY VERSUS FISCAL DOMINANCE: THE CASE OF SPAIN, 1850-2000 (2014)
Working Paper: Government deficit sustainability, and monetary versus fiscal dominance: The case of Spain, 1850-2000 (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:36:y:2014:i:5:p:924-937

DOI: 10.1016/j.jpolmod.2014.07.004

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