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Estimating a stylized fiscal policy DSGE model for Brazil
Pereira, Rodrigo Mendes - 2019
key features of the Brazilian economy. I first calibrate and then I use Bayesian methods to estimate the model for Brazil …-cyclicality of the fiscal policy in Brazil. Moreover, the results suggest that tax rate changes have been used to counter changes in …
Persistent link: https://www.econbiz.de/10012061796
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"Robin Hood in reverse" : persistence and barriers to redistributive fiscal policy
Cavalcante, Pedro - 2021
distribution in Brazil. The inquiry tests the mechanism using the case of redistributive fiscal policy and the literature of …
Persistent link: https://www.econbiz.de/10012486184
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Anticipated and unanticipated fiscal shocks in an estimated DSGE model for the Brazilian economy
Cavalcanti, Marco Antônio Freitas de Hollanda; Vereda, … - 2023
We estimate a DSGE model for Brazil that includes both anticipated and unanticipated fiscal shocks. The model contains …, we find that anticipated shocks are less relevant in Brazil when compared to other countries, and that the degree of …
Persistent link: https://www.econbiz.de/10014428792
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Fiscal space and public sector investments in infrastructure : a Brazilian case-study
Afonso, José Roberto; Araujo, Erika Amorim; Biasoto … - 2015
, especially in infrastructure. Brazil has one of the highest tax burdens in the world and, at the same time, the public sector has …
Persistent link: https://www.econbiz.de/10012038450
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Fiscal descentralization and big cities financing in Brazil
Rezende, Fernando - 2015
Brazilian big cities have high needs but dispose of low means. This situation leads to a paradox: a higher dependence on the state and federal governments as compared with middle size and smaller cities with respect to the provision of urban and social services. Higher dependence means more...
Persistent link: https://www.econbiz.de/10011998206
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Fiscal fatigue and public debt limit in Brazil : are we on sustainable path?
Pereira, Rodrigo Mendes - 2020
In this paper I use Ghosh et al. (2013) approach to assess Brazil's fiscal sustainability, fiscal fatigue, and public … debt limit. Using monthly data for the last 21 years, I estimate Brazil's fiscal reaction function and an eventual fiscal … higher levels of debt. I show that fiscal fatigue occurs at relatively mild levels of debt in Brazil. I also define Brazil …
Persistent link: https://www.econbiz.de/10012266960
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Tax and growth in a developing country : the case of Brazil
Sachsida, Adolfo; Mendonça, Mário Jorge Cardoso de - 2016
This paper uses Brazilian quarterly data, from the period January/2002 to June/2015, to estimate the impact of taxes over gross domestic product (GDP) per capita. The econometric results show a negative and statistically significant impact of the overall tax burden over per capita GDP. In...
Persistent link: https://www.econbiz.de/10012058615
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Thoughts on a fiscal union in EMU
Gadatsch, Niklas; Hollmayr, Josef; Stähler, Nikolai - 2016
Using an estimated large-scale New-Keynesian model, we assess welfare and business cycle consequences of a fiscal union within EMU. We differentiate between three different scenarios: public revenue equalisation, tax harmonisation and a centralised fiscal authority. Relative to the status quo,...
Persistent link: https://www.econbiz.de/10011546743
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Fiscal devaluation in a Monetary Union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - 2013
Between 1999 and the onset of the economic crisis in 2008 real exchange rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange rate...
Persistent link: https://www.econbiz.de/10010221275
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German and the rest of euro area fiscal policy during the crisis
Gadatsch, Niklas; Hauzenberger, Klemens; Stähler, Nikolai - 2015
We present the estimated large-scale three-region DSGE model GEAR picturing Germany, the Euro Area and the Rest of the world. Compared to existing models of this type, GEAR incorporates a comprehensive fiscal block, involuntary unemployment and a complex international structure. We use the model...
Persistent link: https://www.econbiz.de/10010516561