There are many problems involved in estimating high frequency series for subnational governments. Space State Model (SSM) is a framework capable of handling some of these problems. The techniques that emerge from this approach (temporal disaggregation and nowcasting) are used to estimate monthly...

This paper offers new estimates of the main macroeconomic aggregates related to the federal public administration accounts; it adopts the methodology of the National Accounts System, but, differently from the IBGE, it measures the expenditure on a cash basis rather than on a accrual basis. The...

Taxes levied by Brazil's 5.563 municipalities are significant components of the country's aggregate gross tax burden. However, official high-frequency aggregate data on these revenues are unavailable as of this moment. This paper develops a methodology for estimating them. Two procedures are...

This paper attempts to discuss quality and some improvements in high frequency time series data of the nominal gross investment expenses for Brazilian municipalities which are state capitals. We first utilized data for the 2001-2008 period available in Relatórios Resumidos de Execução...

In this paper, we present a disaggregated framework for the analysis of past and projected structural developments in the most relevant revenue and expenditure categories and the fiscal balance. The framework, in particular, distinguishes between the effects of discretionary fiscal policy and of...

The worst global downturn since the Great Depression has caused ballooning budget deficits in most nations, as tax revenues collapse and governments bail out financial institutions and attempt countercyclical fiscal policy. With notable exceptions, most economists accept the desirability of...

This paper examines the policy rate recommendations of the Bank of Canada's Governing Council (GC) and the C.D. Howe Institute's Monetary Policy Council (MPC) since 2003. We find, first, that differences in the median recommendations between the MPC and the GC are persistent but small (i.e., 25...

In this paper, we present a disaggregated framework for the analysis of past and projected structural developments in the most relevant revenue and expenditure categories and the fiscal balance. The framework, in particular, distinguishes between the effects of discretionary fiscal policy and of...

Der Aufbau Ost scheint weitgehend abgeschlossen. Der IW-Einheitsindex, der sieben Indikatoren zur Ost-West-Angleichung umfasst, dokumentiert anhaltende, aber langsame Fortschritte. Die Infrastruktur der neuen Bundesländer ist gut ausgebaut, die Arbeitslosenquote ist im einstelligen Bereich...

We study the effects of federal purchases on firm investment using a novel panel dataset that combines federal procurement contracts in the United States with key financial firm-level information. Using panel fixed-effect models, propensity score matching, and inverse probability weighting...