Administração e sustentabilidade da dívida pública no Brasil: Uma análise para o período 1995-2007

This paper aims to evaluate how public debt management in Brazil has affected its sustainability in the 1996-2007 period. In 2003 Brazilian public debt management changed the trade off between cost minimization and risk minimization emphasizing the first element. Using a Markov-Switching model in order to model this policy change we access fiscal sustainability with Monte Carlo simulations. The results show that Brazilian public debt is sustainable in the medium run.

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Year of publication:	2008
Authors:	Mendonça, Mário Jorge ; Pires, Manoel Carlos de Castro ; Medrano, Luiz Alberto
Publisher:	Brasília : Instituto de Pesquisa Econômica Aplicada (IPEA)
Subject:	Schuldenmanagement \| Brasilien

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Series:	Texto para Discussão ; 1342
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	Portuguese
Other identifiers:	577109278 [GVK] hdl:10419/91118 [Handle]
Classification:	C15 - Statistical Simulation Methods; Monte Carlo Methods ; H63 - Debt; Debt Management ; H68 - Forecasts of Budgets, Deficits, and Debt
Source:	EconStor

Persistent link: https://www.econbiz.de/10010330602