This paper estimates the primary structural budget balance (eliminating the effects due to cyclical fluctuations in GDP and oil price) for the central government and public administrations from 1997 to the second quarter of 2010. Some adjustments were made on the IMF methodology to account for...

The mapping of frequency rates of events is an important tool for guiding public policy. Nevertheless, this problem has not received adequate attention by most researchers. In many studies, the used ratios have serious problems when the geographic units have a small population at risk and when...

This paper examines whether fiscal illusion can help to explain the behavior of federal government expenditures in Brazil during period 1990-2011. The analyses is based on a median voter model that admits that the degree of tax visibility may affect the individual's perception of his tax burden...

There is a lot of debate about the fiscal impact of the National Treasury loans to BNDES. Given that the interest rates of the loans are mostly indexed to TJLP, there is, in principle, a fiscal cost equal to the difference between TJLP and the market rates of Treasury debt. However, this...

This paper examines whether fiscal illusion can help to explain the behavior of federal government expenditures in Brazil during period 1990-2011. The analyses is based on a median voter model that admits that the degree of tax visibility may affect the individual’s perception of his tax...

There is a lot of debate about the fiscal impact of the National Treasury loans to BNDES. Given that the interest rates of the loans are mostly indexed to TJLP, there is, in principle, a fiscal cost equal to the difference between TJLP and the market rates of Treasury debt. However, this...

The mapping of frequency rates of events is an important tool for guiding public policy. Nevertheless, this problem has not received adequate attention by most researchers. In many studies, the used ratios have serious problems when the geographic units have a small population at risk and when...

This paper aims at analyzing the impacts of the Fiscal Responsibility Law (FRL) on total expenditures across municipalities in the State of Minas Gerais, Brazil. To accomplish the objectives of the paper, we analyzed the situation before and after the Law using a dynamic panel. There was...

This study suggests an alternative approach, nested in exogeneity tests, to verify Ricardian Equivalence. The intuitive appeal and the sophisticated statistical method are the advantage of this new procedure. Furthermore, two others contributions are made: a) an explanation to the failure of...