Pol -tica Fiscal y Productividad del Trabajo en la Econom -a Espa ±ola: Un An lisis de Series Temporales

In this paper we use a endogenous growth model with productive publicpar capital to investigate the degree to which observed Spanish fiscal poli-cies can account for slowdown in the growth rates of labor productivity since 1970. The model implies a long-run relationship exists between the labor productivity, the ratio of public-to-private capital, the average tax rate, and the stock of private capital per employee. The model is estimated for Spanish economy, using annual data for the period 1964-1997.