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- W2305152014 abstract "Despite the theoretical agreement on the inflationary effects of persistentdeficits, empirical work did not provide compelling evidence of the link between budgetand money until the inclusion of non-developed countries in panel studies. This paperproposes an alternative approach: to take advantage of history and exploit the changesin development in a single country in the very long run, Spain from 1874 to 1998. As amain result, the use of different econometric tools shows how, effectively, the causalityfrom fiscal to monetary variables changes over time. More importantly, as in previousresearch, the intensity of the link matches perfectly with the different degree of Spain�sinstitutional development, fiscal dominance holding until the easier access to foreignmarkets that followed its entry into the European Community in 1985." @default.
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- W2305152014 date "2012-01-01" @default.
- W2305152014 modified "2023-09-28" @default.
- W2305152014 title "Fiscal dominance and financial development. The long-run Spanish case" @default.
- W2305152014 hasPublicationYear "2012" @default.
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