The issue of fiscal imbalance has become central to the current economic debate. A diagnostic Brazilian fiscal problem emphasizes that the rise in primary expenditure stems from "structural" factors, due to the growth of social security spending and social programs, resulting from the 1988...

This paper studies the determination of the surpluses of the Brazilian central government. For quarterly data from 1996 through 2011, the empirical strategy included: i) structural break models and nonlinear estimates on the level of public debt, to handle the inertia after 1999, for high levels...

The objective of this paper is to analyze the role of fiscal policy in the determinants of the sovereign spreads of a group of 23 emerging market countries in the period 1995-2008 focusing on two matters: i) fiscal policy sustainability, known as the accumulation of primary budget surplus, that...

This discussion paper intends to complement the analyzes carried out in Gobetti (2015), updating the diagnosis of the development of fiscal balances of the Brazilian public sector from the new series of GDP released by IBGE and statistics "above the line" that incorporate regional level of...

This text aims to qualify the debate on the need for fiscal adjustment in Brazil, showing that the trend that takes place - at this conjuncture, as in other past - a low quality setting, based on cutting investments and / or increased tax burden, it is almost inevitable in the face of public...

This paper estimates the primary structural balance and the fiscal impulse for the Brazilian public administrations from 1997 to 2010. We performed two adjustments: i) initially, one-off measures (including those resulting from creative accounting) were identified; and, ii) after this correction,...

Technological progress enables the simplification of procedures in all areas of knowledge, science, technology and innovation and in this context it is necessary to modernize the National Tax System, the responsibility of the Federal Government has an obligation to present Brazilian society a...

In a pay-as-you-go system (SPR) receives contributions from active generations to finance the benefit of inactive people, making their financial balance depend on the proportion of inactive people in the population, a proportion that will double in Brazil in the next 30 years, making it...

The results presented in the text show that, by curbing the growth of primary expenditures, Constitutional Amendment 95 has the potential to stabilize and to reduce general government gross debt, thus guaranteeing the sustainability of the Brazilian public debt. The positive effects of a greater...