The Common Agricultural Policy (CAP) of the European Union (EU), one of the most important symbols of the European regional integration process, completed fifty years in 2012. At first glance, many of its positive aspects, which places the EU as the global largest exporter position of agri-food...

The Common Agricultural Policy (CAP) of the European Union (EU), one of the most important symbols of the European regional integration process, completed fifty years in 2012. At first glance, many of its positive aspects, which places the EU as the global largest exporter position of agri-food...

The goal of the chapter is to discuss the ways of state action in Brazil since Fernando Henrique Cardoso (FHC) to Dilma Rousseff. The intention is not to scrutinize the performance of public accounts but scrutinize the stance of fiscal policy, the role reserved to the State and the instruments...

This article verifies the occurrence of a real estate bubble in the Brazilian economy. Overall, our results suggest the existence of a bubble in the real estate sector of the economy. The Austrian School of economics provides a solid explanation to this phenomenon, which are reinforced by...

This article estimates fiscal costs derived from the federal government industrial policy between 2004 and 2016. We focus on the measurement of "tax expenditures", something inedited in Brazilian economic literature on the subject. We also analysis tax exemptions that, for legal reasons, are not...

So far, there are very few papers concerning the problems of non causality and non-fundamentalness in fiscal studies. This is even truer for Brazil. Non causality and non fundamentalness are econometric problems that are specially relevant in fiscal studies, as they are relate to fiscal...

The vector autoregressive and structural vector autoregressive (VAR/SVAR) models are the cornerstone of the contemporaneous empirical macroeconomic research, in particular for measuring the impact of fiscal policy shocks. They may be employed as atheoretical models, as well as a mean to support...

This text for discussion presents an exploratory analysis of the main measures of emergency economic policy adopted by the federal government of Brazil within the scope of the strategy to face the economic, social and public health crisis resulting from the Covid-19 pandemic. The objective is to...

This paper analyzes the macroeconomic impacts derived from the recognition of previously unreported fiscal liabilities during 2015 in Brazil. This is done within a DSGE model with a detailed public sector developed and calibrated for the Brazilian economy. The gradual recognition of these fiscal...

A new state debt cycle occurred mainly through external and contracted credit operations with federal banks from 2008, after a long period with few loans and debt stock fall. It is argued that exogenous macroeconomic factors were essential in the downward trend of the debt in the early 2000s,...