RT Generic
T1 Optimal public deficit and tax-smoothing in the Spanish economy,1850-2022
A1 Congregado Ramírez de Aguilera, Emilio
A1 Esteve, Vicente
A1 Prats Albentosa, María Asunción
AB In this paper, we provide a formal test of Barro s tax-smoothing model, using Spanish data covering the period 1850 2022. First, we found that the tax-tilting component has been very important for the Spanish government and is a symptom of the existence of a public de cit bias that has existed in Spanish public nances over the sample period. Second, our empirical ndings do also support the existence of tax-smoothing in Spanish scal policy throughout the sample period. Consequently, there is some evidence that the Spanish economy has engaged in tax-smoothing behavior over the period analyzed, as the Spanish governments responded to expected future changes in government spending by running budget imbalances, rather than altering contemporaneous government revenues.
PB Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social
SN 2172-7856
YR 2024
FD 2024
LK https://hdl.handle.net/10272/25658
UL https://hdl.handle.net/10272/25658
LA eng
NO Congregado, E., Esteve, V. & Prats, M.A. (2024). Optimal public deficit and tax-smoothing in the Spanish economy,1850-2022. In Documentos de Trabajo (W.P. 1). Instituto Universitario de análisis Económico y Social, Universidad de Alcalá.
NO Emilio Congregado and Vicente Esteve acknowledge the fiancial support from the Spanish Ministry of Science and Innovationand AEI through the project PID2020-115183RB-C22. Vicente Esteve acknowledges the financial support from the Spanish Ministry of Science and Innovation through the project PID2020-114646RB-C42. Emilio Congregado, Vicente Esteve and María A.Prats acknowledge the financial support from the Institute of Fiscal Studies (IEF) of Spanish Ministry of Finance.
DS Repositorio Institucional de la Universidad de Huelva
RD 4 jul 2026