In this paper, we calculate the necessary payroll tax to reach the financial equilibrium of the retirement system for formal workers in the private sector in Brazil (INSS). Such an exercise allows us to identify the formal employees who contribute to the increase of the INSS deficit. Although we...

The purpose of this paper is to use the literature which evaluates the external sustainability condition to evaluate the original equation of Feldstein and Horioka. We conclude that the saving-investment correlation calculated using cross-sectional data measures the solvency condition instead of...

This article presents a reform proposal of Brazil's pension system. The new system is based on the principles of actuarial fairness, incentive to formalization, universalization and simplification of the social security structure. We calculated the balancing contribution rate to the system. The...

The objective of this paper is to analyze the Brazilian state fiscal consolidation in the period 1986-2001. For that propose, we apply the duration models methodology. Henceforth, we try to list the main features that can explain the probability of the continuity of a state fiscal adjustment...

The purpose of this paper is to determine which components of public spending have influence on economic growth. The sample is composed by the Brazilian states over the period 1986-2002. Initially the spending is classified according its economic characteristics: current or capital. Later it is...

This article analyzes the financial equilibrium of the retirement system for public servants in Brazil. After defining the theoretical model, the strategy of analysis consists in the estimate for each public servant in the PNAD-IBGE, the necessary payroll tax to finance the expected benefits. It...

The purpose of this paper is to evaluate the impact of motherhood on the engagement of women in the labor market. To deal with the endogeneity inherent to the relation children-engagement, the event of 'stillborn' was used as an instrument to fertility. In addition to the traditional estimation...