The authors provide key stylised facts on fiscal policy developments in Spain over the past three decades using quarterly data (1986Q1-2012Q2). First, they compute stylised facts on the cyclical properties of fiscal policies over that period. Next, they report updated evidence on the macroeconomic effects of non-systematic fiscal policies, including updated estimates of their macroeconomic impact (fiscal multipliers) for alternative datasets. To perform the analysis in the paper they built up a comprehensive database of seasonally adjusted quarterly fiscal variables for the period of interest.
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