Bajo Rubio, Óscar
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Bajo Rubio
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Óscar
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Economía
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Publication Open Access Provision of public health services and sustainable development: evidence for 12 emerging countries(MDPI, 2020) Bajo Rubio, Óscar; Gómez Gómez-Plana, Antonio; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; EconomíaIn this paper, we quantify the effects of an increase in the public provision of health services in a set of 12 emerging economies (i.e., Brazil, Chile, China, Colombia, India, Kazakhstan, Mexico, Morocco, Peru, Russia, South Africa and Tunisia), representing 45% of world population in 2018. We use a computable general equilibrium model and simulate an increase in the real government expenditure devoted to public health services up to a 20% of total government expenditure, which is also assumed to raise labour productivity. This increase leads to expansionary effects in terms of gross domestic product (GDP) and employment for all the economies under analysis and an increase in the ratio of government deficit to GDP, ranging between 3.66 points for Russia and 0.24 points for Colombia. If, in addition, direct tax rates on labour are increased to offset this result, the effects on GDP and employment become contractionary in most cases; whereas if indirect tax rates are those to be increased, small expansionary effects are again the norm with the only exception of Russia.Publication Open Access Austerity and asymmetries in the fiscal policies of the Eurozone: the case of Southern Europe(Springer, 2025-04-23) Bajo Rubio, Óscar; Gómez Gómez-Plana, Antonio; Economía; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; Universidad Pública de Navarra / Nafarroako Unibertsitate PublikoaIn this paper, we analyse the effects of several austerity policies implemented by the Southern European countries, i.e., Portugal, Italy, Greece, and Spain on the economies of the European Union and the rest of the world. In particular, we simulate the reduction in one point in the government deficit-to-GDP ratio in each of these countries, through several alternative policies, both from the spending side and the revenue side. The empirical methodology is based on a computable general equilibrium model, which incorporates the backward sectoral linkages and inter-country flows generated by fiscal consolidations. Our results show that these austerity policies were generally more painful, in terms of a fall in the levels of activity and a worsening in income distribution for labour, in the scenarios of tax increases rather than in those based on spending cuts. The effects on the rest of the European Union and the rest of the world were however mostly negligible.Publication Open Access A multi-country analysis of austerity policies in the European Union(Wiley, 2021) Bajo Rubio, Óscar; Gómez Gómez-Plana, Antonio; Ekonomia; Institute for Advanced Research in Business and Economics - INARBE; EconomíaWe analyse the global effects from the austerity policies recently implemented in the EU, by developing an extension of the GTAP general equilibrium model. The extended model incorporates a new specification of the trade balance (i.e. endogenous), the labour market (i.e. unemployment under a wage curve framework) and the public sector (i.e. split from the representative national agent, with endogenous expenditure and savings). Three alternative policies aimed to get a one percentage point reduction in the EU’s government deficit to GDP ratio are simulated, and their effects on the main macroeconomic variables of seven regions of the world economy are examined. The three policy measures led to contractionary effects on the EU’s activity levels, together with changes in income distribution, always detrimental to labour. The effects on the rest of the world, driven by changes in trade flows, were, however, mostly negligible.