Fiscal regime shifts in Portugal

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2009
Outros Autores: Claeys, Peter, Sousa, Ricardo M.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/1816
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 rules prompted temporary consolidation, but did not permanently change the budgeting process.
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spelling 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 rules prompted temporary consolidation, but did not permanently change the budgeting process.ISEG - Departamento de EconomiaRepositório da Universidade de LisboaAfonso, AntónioClaeys, PeterSousa, Ricardo M.2010-04-13T13:54:59Z20092009-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/1816engAfonso, António, Peter Claeys, Ricardo M. Sousa. 2009. "Fiscal regime shifts in Portugal". Instituto Superior de Economia e Gestão – DE working papers nº 41-2009/DE/UECE.0874-4548info: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:RCAAP2023-03-06T14:33:04Zoai:www.repository.utl.pt:10400.5/1816Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:49:55.503941Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
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 rules prompted temporary consolidation, but did not permanently change the budgeting process.
publishDate 2009
dc.date.none.fl_str_mv 2009
2009-01-01T00:00:00Z
2010-04-13T13:54:59Z
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/10400.5/1816
url http://hdl.handle.net/10400.5/1816
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António, Peter Claeys, Ricardo M. Sousa. 2009. "Fiscal regime shifts in Portugal". Instituto Superior de Economia e Gestão – DE working papers nº 41-2009/DE/UECE.
0874-4548
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - Departamento de Economia
publisher.none.fl_str_mv ISEG - Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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