Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/61503
Title: Fiscal Regime Shifts in Portugal
Author: Claeys, Peter Gunther
Sousa, Ricardo M.
Afonso, António
Keywords: Política fiscal
Inversions
Crisis econòmiques
Portugal
Fiscal policy
Investments
Depressions
Portugal
Issue Date: 2009
Publisher: Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
Abstract: We estimate changes in fiscal policy regimes in Portugal with a Markov Switching regression of fiscal policy rules for the period 1978-2007, using a new dataset of fiscal quarterly series. We find evidence of a deficit bias, while repeated reversals of taxes making the budget procyclical. Economic booms have typically been used to relax tax pressure, especially during elections. One-off measures have been preferred over structural ones to contain the deficit during economic crises. The EU fiscal rules prompted temporary consolidation, but did not permanently change the budgeting process.
Note: Reproducció del document publicat a: http://www.ub.edu/irea/working_papers/2009/200921.pdf
It is part of: IREA – Working Papers, 2009, IR09/021
URI: http://hdl.handle.net/2445/61503
ISSN: 2014-1254
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))

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