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Mistakes in the Fiscal Policy in Spain before the Crisis

Jesus Ferreiro (), Carmen Gómez () and Felipe Serrano ()
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Carmen Gómez: Department of Applied Economics V, University of the Basque Country UPV-EHU, Spain

Authors registered in the RePEc Author Service: Carmen Gomez ()

Panoeconomicus, 2013, vol. 60, issue 5, 577-592

Abstract: The paper analyses the mistakes made in the management of the fiscal policy in Spain before the crisis. The authors argue that the low size of the public expenditures, the adoption of a procyclical expansionary fiscal policy the years before the crisis, and the lack of a correct coordination between the Spanish fiscal policy and the ECB’s monetary policy, are key elements to understand the depth and length of the economic crisis and the current high fiscal imbalances in Spain.

Keywords: Economic crisis; Fiscal policy; Macroeconomic policy; Spain; Stabilization policy distribution (search for similar items in EconPapers)
JEL-codes: E62 E65 (search for similar items in EconPapers)
Date: 2013
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