The public debt of the Spanish regions. Estimates of their fiscal consolidation efforts and scenarios of future evolution

Carmen Marín and Diego Martínez

No eee2024-15, Studies on the Spanish Economy from FEDEA

Abstract: The Spanish regional public debt to GDP ratio is the highest in Europe. In this paper, we study the evolution of the factors explaining the recent changes in this ratio from 2015 to 2023. Moreover, we estimate the fiscal consolidation efforts needed to achieve a determined level of public debt. Likewise, a macroeconomic model is calibrated to simulate the future evolution of regional public debt under different consolidation strategies. Our main conclusion indicates that fiscal consolidation efforts will be inevitably significant, if not unfeasible in some cases, to address the deleveraging process required by the reform of the European fiscal rules.

Date: 2024-06
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://documentos.fedea.net/pubs/eee/2024/eee2024-15.pdf (application/pdf)

Related works:
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:fdaeee:eee2024-15

Access Statistics for this paper

More papers in Studies on the Spanish Economy from FEDEA
Bibliographic data for series maintained by Carmen Arias ().