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...

This article investigates the effects of fiscal policy shock in the Brazilian economy using quarterly data during the period between January/1995 and December/2007. We follow the agnostic procedure suggested by Mountford and Uhlig (2005) to verify separately the impact of the unexpected positive...

This work analyses the evolution of the tributary structure and the constitution and organisation of the Brazilian revenue system in the long period from 1889 to 2009. It aims to identify, on one hand, the functions attributed to fiscal policy and to taxation, as well as how these State`s...