Fiscal regime shifts in Portugal
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/15668 |
Resumo: | 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 framework prompted temporary consolidation, but did not permanently change the budgeting process. |
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Fiscal regime shifts in PortugalFiscal regimesMarkov SwitchingPortugalWe 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 framework prompted temporary consolidation, but did not permanently change the budgeting process.Springer VerlagRepositório da Universidade de LisboaAfonso, AntónioClaeys, PeterSousa, Ricardo M.2018-06-21T08:05:58Z2011-082011-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/15668engAfonso, António, Peter Claeys e Ricardo M. Sousa (2011). "Fiscal regime shifts in Portugal". Portuguese Economic Journal, 10(2):83-1081617-982X (print)10.1007/s10258-010-0065-5metadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-12T01:31:00ZPortal AgregadorONG |
dc.title.none.fl_str_mv |
Fiscal regime shifts in Portugal |
title |
Fiscal regime shifts in Portugal |
spellingShingle |
Fiscal regime shifts in Portugal Afonso, António Fiscal regimes Markov Switching Portugal |
title_short |
Fiscal regime shifts in Portugal |
title_full |
Fiscal regime shifts in Portugal |
title_fullStr |
Fiscal regime shifts in Portugal |
title_full_unstemmed |
Fiscal regime shifts in Portugal |
title_sort |
Fiscal regime shifts in Portugal |
author |
Afonso, António |
author_facet |
Afonso, António Claeys, Peter Sousa, Ricardo M. |
author_role |
author |
author2 |
Claeys, Peter Sousa, Ricardo M. |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Afonso, António Claeys, Peter Sousa, Ricardo M. |
dc.subject.por.fl_str_mv |
Fiscal regimes Markov Switching Portugal |
topic |
Fiscal regimes Markov Switching Portugal |
description |
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 framework prompted temporary consolidation, but did not permanently change the budgeting process. |
publishDate |
2011 |
dc.date.none.fl_str_mv |
2011-08 2011-08-01T00:00:00Z 2018-06-21T08:05:58Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/15668 |
url |
http://hdl.handle.net/10400.5/15668 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Afonso, António, Peter Claeys e Ricardo M. Sousa (2011). "Fiscal regime shifts in Portugal". Portuguese Economic Journal, 10(2):83-108 1617-982X (print) 10.1007/s10258-010-0065-5 |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer Verlag |
publisher.none.fl_str_mv |
Springer Verlag |
dc.source.none.fl_str_mv |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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1777302145099366400 |