Contenido de la información y efecto de consenso de los planes fiscales



Palabras clave:

Política fiscal, Modelo de efecto de tratamiento, Estudios de eventos, Rendimientos de acciones, Volumen de operaciones


Este estudio investiga hasta qué punto los planes fiscales proporcionan información novedosa a los inversores e inducen consenso sobre las previsiones fiscales de los gobiernos. Aprovechamos los requisitos de divulgación obligatoria del Pacto de Estabilidad y Crecimiento y documentamos que, en general, los planes fiscales son informativos, pero los inversores interpretan su contenido de manera diferente. Demostramos además que, aunque los planes fiscales que prevén recortes del gasto durante las recesiones tienen un contenido informativo sustancial, provocan divergencias de opinión. Aunque estos resultados son coherentes con la evidencia reciente sobre los efectos contractivos e inciertos de la política fiscal procíclica durante las recesiones, arrojan dudas sobre la capacidad de los gobiernos para anclar las expectativas fiscales durante las recesiones


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Cómo citar

Columbano, C. ., & Bafundi, A. (2024). Contenido de la información y efecto de consenso de los planes fiscales. Estudios económicos, 41(83), 93–122.