Optimal public deficit and tax-smoothing in the Spanish economy, 1850-2022

  1. Congregado, Emilio 1
  2. Esteve, Vicente 2
  3. Prats, María A. 3
  1. 1 Universidad de Huelva
    info

    Universidad de Huelva

    Huelva, España

    ROR https://ror.org/03a1kt624

  2. 2 Universidad de Alcal·
  3. 3 Universidad de Murcia
    info

    Universidad de Murcia

    Murcia, España

    ROR https://ror.org/03p3aeb86

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Revista:
Documentos de Trabajo (IAES, Instituto Universitario de Análisis Económico y Social)

ISSN: 1139-6148

Ano de publicación: 2024

Número: 1

Páxinas: 1-39

Tipo: Documento de traballo

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Outras publicacións en: Documentos de Trabajo (IAES, Instituto Universitario de Análisis Económico y Social)

Resumo

In this paper, we provide a formal test of Barroís tax-smoothing model, using Spanish data covering the period 1850ñ2022. 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 deÖcit bias that has existed in Spanish public Önances over the sample period. Second, our empirical Öndings do also support the existence of tax-smoothing in Spanish Öscal 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

Fonte de datos: Dialnet