Academic Journal
Potential output and cyclically adjusted balance: an application of the updated Okun method to Spain (1987-2022)
| العنوان: | Potential output and cyclically adjusted balance: an application of the updated Okun method to Spain (1987-2022) |
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| المؤلفون: | Villanueva Cortés, Paloma, Cárdenas Del Rey, Luis, Ruiz Gómez, Juan Rafael |
| بيانات النشر: | Routledge Taylor & Francis |
| سنة النشر: | 2024 |
| المجموعة: | Universidad Complutense de Madrid (UCM): E-Prints Complutense |
| مصطلحات موضوعية: | E24, E32, E6, Potential GDP, Structural balance, Okun’s law, Spain, Economía, 53 Ciencias Económicas |
| الوصف: | The estimation of potential output is at the heart of the ongoing debate on the reformulation of fiscal rules in the European Union as it is an essential variable for their application. Spain constitutes a striking case, with a small and even positive output gap along with one of the highest unemployment rates in the European Union. To resolve this contradiction, in this article we estimate the potential output of the Spanish economy for the period 1987Q2–2022Q4 by means of the Updated Okun Method. Our results indicate that both the output gap and the cyclically adjusted balance are much higher than what European institutions estimate. Consequently, Spain has much more fiscal space to implement expansionary fiscal policies. ; Depto. de Economía Aplicada, Pública y Política ; Fac. de Ciencias Políticas y Sociología ; TRUE ; pub |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | application/pdf |
| اللغة: | English |
| تدمد: | 0953-8259 1465-3982 |
| Relation: | https://hdl.handle.net/20.500.14352/102682; Cardenas, L., Villanueva, P. and Ruiz, J. R. (2024) ‘Potential Output and Cyclically Adjusted Balance: An Application of the Updated Okun Method to Spain (1987–2022)’, Review of Political Economy, pp. 1–21. doi:10.1080/09538259.2024.2324860. |
| DOI: | 10.1080/09538259.2024.2324860 |
| الاتاحة: | https://hdl.handle.net/20.500.14352/102682 https://doi.org/10.1080/09538259.2024.2324860 https://www.tandfonline.com/doi/full/10.1080/09538259.2024.2324860 |
| Rights: | open access |
| رقم الانضمام: | edsbas.F888574B |
| قاعدة البيانات: | BASE |
| تدمد: | 09538259 14653982 |
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| DOI: | 10.1080/09538259.2024.2324860 |