-level-indexed and foreign-denominated debt securities. The model predicts that the variance of inflation, the size of the public debt …, the variance of the real exchange rate, and the correlation of inflation with public expenditures are the main … last decade. In particular, it explains the large increase of indexed public debt in Brazil prior to the 1994 Real plan and …

This paper examines the sustainability of fiscal policy under uncertainty in three emerging market countries, Brazil …

be conducted independently of fiscal financing requirements. In Brazil, some evidence favors an MD regime for 1995 …

of fiscal policy on the other. Applications to Argentina, Brazil, Mexico, South Africa, and Turkey are used to illustrate …

We look into Brazil''s public sector accounts during the two administrations of President Fernando Henrique Cardoso …

This paper quantitatively assesses the effects of inflation shocks on the public debt-to-GDP ratio in 19 advanced … impulse responses by local projections both suggest that a 1 percentage point shock to inflation rate reduces the debt … higher inflation, even if accompanied by some financial repression, could reduce public debt burden only marginally in many …

times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …

). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and … and inflation …

This paper investigates the impact of low or high inflation on the public debt-to-GDP ratio in the G-7 countries. Our … simulations suggest that if inflation were to fall to zero for five years, the average net debt-to-GDP ratio would increase by … about 5 percentage points over the next five years. In contrast, raising inflation to 6 percent for the next five years …

predictions of a forward-looking model of inflation. Wealth effects of public debt could also affect inflation, as posited by the … fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt-inflation … inflation …