Fiscal Policy Rules in Practice

4.3 The Data

.22

.10-⅜...............................

1970   1975   1980 1985   1990 1995 2000

---Germany Expenditure/Output Ratio

I---Germany Revenue/Output Ratio ∣

Germany Debt/Output Ratio

---Spain Revenue/Output Ratio

.1²-⅜.................

86   88   90   92   94   96   98   00   02

2.4

2.2

2.0

1.8

1.6

1.4

1.2

86   88   90   92   94   96   98   00   02

I----Spain Expenditure/Output Ratio ∣

I----Spain Debt/Output Ratio ∣

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