Persona:
Herrero Alcalde, Ana

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0000-0002-9594-1967
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Herrero Alcalde
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Ana
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20242
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Fecha de inicio: 2024 × Fecha de finalización: 2024 × Tipo: journal article ×

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Mostrando 1 - 2 de 2
  • Miniatura
    Publicación
    Fiscal consolidation and voting: on the electoral costs of budgetary stability
    (Wiley, 2024-05-08) Lago Peñas, Santiago; Cadaval Sampedro, María; Herrero Alcalde, Ana
    In this paper, we analyse the potential impact of policies aimed at fostering fiscal sustainability on citizens’ preferences. A survey specifically designed for this purpose quantifies citizens’ knowledge and concern about fiscal imbalances and the institutional framework that addresses them in Spain, and their possible electoral reactions to public spending cuts and tax increases. Using both ordered and unordered multinomial probit models, we corroborate that citizens tend to disapprove of retrenchment policies. However, the effect on citizens’ voting intentions varies depending on their political ideology. We confirm that left-wing voters supporting the incumbent coalition parties prefer austerity policies based on the revenue side of the budget, while right-wing voters tend to approve retrenchments based on the expenditure side to a larger extent.
  • Miniatura
    Publicación
    Fiscal rules to the test: The impact of the Spanish expenditure rule
    (Elsevier, 2024) Moral Arce, Ignacio; Herrero Alcalde, Ana; Martín Román, Javier
    Despite the large spread of fiscal rules around the world, there is still not enough evidence of their effectiveness in ensuring fiscal sustainability. Furthermore, there is little evidence of the impact of expenditure rules in countries’ fiscal performance. This paper evaluates the effectiveness of the Spanish expenditure rule that has been in force since 2012 in controlling the growth of public expenditure. We use a synthetic control methodology to analyze the impact of the rule on the evolution of current and primary expenditure within Spanish public administrations (2001–2018), avoiding the potential endogeneity problems of traditional econometric approaches. Overall, we find that the expenditure rule has largely improved budget sustainability by limiting both current and primary expenditure. These results are robust to different levels of government.