%0 Journal Article
%T Short-term monitoring of the Spanish government balance
%A Teresa Leal
%A Diego J. Pedregal
%A Javier J. P¨Śrez
%J SERIEs
%@ 1869-4195
%D 2011
%I 
%R 10.1007/s13209-010-0018-3
%X We construct multivariate, state-space mixed-frequencies models for the main components of the Spanish General Government sector made up of blocks for each one of its subsectors: Central Government, Social Security and aggregate of Regional and Local government sectors. Each block is modelled through its total revenue and expenditure categories, and encompasses a number of indicators, depending on data availability. The mixed-frequencies approach is particularly relevant for the case of Spain, given its institutional set-up and the specific data availability for the different subsectors. All in all, we provide models detailed enough in coverage, while at the same time manageable, to be used: (1) for real-time monitoring of fiscal policies with a focus on quarterly developments of the General Government sector, (2) for the monitoring of general government sub-sectors for which intra-annual data coverage is limited (Regional and Local governments), (3) to bridge (translate) into National Accounts available monthly information for the subsectors of the general government.
%K Fiscal forecasting
%K Fiscal policies
%K Mixed frequency data
%K Kalman filter
%K C53
%K E6
%K H6
%U http://link.springer.com/article/10.1007/s13209-010-0018-3