revenues and expenditures are linked to the business cycle in Brazil, particularly after the introduction of the Fiscal …-cyclical fiscal policy in Brazil at the state level. However, the introduction of the Fiscal Responsibility Law helped to reduce …

"The authors describe the main trends of Brazil's fiscal policy during the past decade and analyze (1) the ability to … Brazil. But the relationship is nonlinear: the impact of the primary balance on spreads is amplified as the debt ratio … disappointing growth performance in Brazil during the past decade. "--World Bank web site …

policy transmissions over Brazilian economic aggregates are investigated, considering Brazil as home and US as foreign …