EconPapers    
Economics at your fingertips  
 

Financial and Fiscal Shocks in the Great Recession and Recovery of the Spanish Economy

José Boscá (), Rafael Domenech (), Javier Ferri (), R. Méndez and J. F. Rubio-Ramírez

No 2018-05, Working Papers from FEDEA

Abstract: In this paper we develop and estimate a new Bayesian DSGE model for the Spanish economy that has been designed to evaluate different structural reforms. The small open economy model incorporates a banking sector, consumers and entrepreneurs who accumulate debt, and a rich fiscal structure and monopolistic competition in products and labor markets, for a country in a currency union, with no independent monetary policy. The model can be used to evaluate ex-ante and ex-post policies and structural reforms and to decompose the evolution of macroeconomic aggregates according to different shocks. In particular, we estimate the contribution of financial and fiscal shocks to both the crisis of the Great Recession and the recovery of the Spanish economy.

Date: 2018-06
New Economics Papers: this item is included in nep-dge, nep-eec and nep-mac
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
https://documentos.fedea.net/pubs/dt/2018/dt2018-05.pdf (application/pdf)

Related works:
Journal Article: Financial and fiscal shocks in the great recession and recovery of the Spanish economy (2020) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fda:fdaddt:2018-05

Access Statistics for this paper

More papers in Working Papers from FEDEA
Bibliographic data for series maintained by Carmen Arias ().

 
Page updated 2020-09-11
Handle: RePEc:fda:fdaddt:2018-05