The study presents a macro-finance model to analyze the impacts of a fiscal policy shock in the Brazilian term structure of interest rate in the period 1999-2010. Fiscal policy explains a higher proportion of the long-term interest rate variance (25% of the five years rate) comparing to the...

The study presents a macro-finance model to analyze the impacts of a fiscal policy shock in the Brazilian term structure of interest rate in the period 1999-2010. Fiscal policy explains a higher proportion of the long-term interest rate variance (25% of the five years rate) comparing to the...

The objective of this study is to perform an econometric modeling exercise of the individual series of taxes aiming to obtain income elasticity and the future projection for each tax. For this, we apply dynamic linear models (MLD) and dynamic factor (MFD), both estimated based on the Bayesian...

The objective of this study is to perform an econometric modeling exercise of the individual series of taxes aiming to obtain income elasticity and the future projection for each tax. For this, we apply dynamic linear models (MLD) and dynamic factor (MFD), both estimated based on the Bayesian...