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dc.contributor.authorGarcía Miralles, Esteban
dc.contributor.authorMartínez Pagés, Jorge
dc.coverage.spatialEspaña
dc.date.accessioned2023-03-15T11:57:46Z
dc.date.available2023-03-15T11:57:46Z
dc.date.issued2023-03-02
dc.identifier.issn1695-9086 (en línea)
dc.identifier.issn1130-4987 (en papel)
dc.identifier.urihttps://repositorio.bde.es/handle/123456789/29791
dc.description.abstractRationale Following the COVID-19 pandemic, tax revenue has shown strong dynamism, increasing as a proportion of GDP by 3.7 percentage points since 2019. Understanding the nature of this dynamism is key to assessing Spanish fiscal policy. Takeaways • This article breaks down revenue growth into four explanatory factors: real economic activity, price growth, the effect of fiscal measures and an unexplained component or tax residual. • The effect of prices (inflation) has been gaining weight and appears to account for somewhat more than half of the revenue growth observed in 2022, especially from VAT and personal income tax. • It is estimated that 2.6 percentage points of the 3.7 percentage point increase in the revenue-to-GDP ratio cannot be explained by the changes in economic activity, prices or the fiscal measures approved. In the absence of an explanation about the permanent or temporary nature of this phenomenon, the principle of prudence would advise against considering this increase in revenue to be permanent.
dc.format.extent12 p.
dc.language.isoen
dc.publisherBanco de España
dc.relation.ispartofEconomic Bulletin / Banco de España, 2023/Q1, 16
dc.relation.hasversionVersión en español 123456789/29732
dc.rightsReconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
dc.rightsIn Copyright - Non Commercial Use Permitted
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES
dc.rights.urihttp://rightsstatements.org/vocab/InC-NC/1.0/
dc.subjectTaxes
dc.subjectGovernment revenue
dc.subjectInflation
dc.subjectStructural deficit
dc.subjectPandemic
dc.titleGovernment revenue in the wake of the pandemic: tax residuals and inflation
dc.typeArtículo
dc.identifier.bdebib000474087
dc.identifier.bdepubECBU-2023-Q1-16
dc.publisher.placeMadrid
dc.subject.bdeImpuestos y otros ingresos públicos
dc.subject.bdePolítica fiscal
dc.publisher.bdeMadrid : Banco de España, 2022-03-02
dc.identifier.doihttps://doi.org/10.53479/29791
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