Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
The study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapte...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | Portuguese |
| Published: |
Universidade de São Paulo
2016-03-01
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| Series: | Economia Aplicada |
| Subjects: | |
| Online Access: | http://www.revistas.usp.br/ecoa/article/view/111678 |
| _version_ | 1818026293423243264 |
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| author | Francisco José Silva Tabosa Roberto Tatiwa Ferreira Andrei Gomes Simonassi Ahmad Saeed Khan Daniel Tomaz |
| author_facet | Francisco José Silva Tabosa Roberto Tatiwa Ferreira Andrei Gomes Simonassi Ahmad Saeed Khan Daniel Tomaz |
| author_sort | Francisco José Silva Tabosa |
| collection | DOAJ |
| description | The study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt. |
| first_indexed | 2024-12-10T04:29:42Z |
| format | Article |
| id | doaj.art-beeeeedf0ac64e959424402a94d828bc |
| institution | Directory Open Access Journal |
| issn | 1413-8050 1980-5330 |
| language | Portuguese |
| last_indexed | 2024-12-10T04:29:42Z |
| publishDate | 2016-03-01 |
| publisher | Universidade de São Paulo |
| record_format | Article |
| series | Economia Aplicada |
| spelling | doaj.art-beeeeedf0ac64e959424402a94d828bc2022-12-22T02:02:11ZporUniversidade de São PauloEconomia Aplicada1413-80501980-53302016-03-0120110.11606/1413-8050/ea134918Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian StatesFrancisco José Silva TabosaRoberto Tatiwa FerreiraAndrei Gomes SimonassiAhmad Saeed KhanDaniel TomazThe study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt.http://www.revistas.usp.br/ecoa/article/view/111678Fiscal ReactionBrazilian StatesSolvency |
| spellingShingle | Francisco José Silva Tabosa Roberto Tatiwa Ferreira Andrei Gomes Simonassi Ahmad Saeed Khan Daniel Tomaz Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States Economia Aplicada Fiscal Reaction Brazilian States Solvency |
| title | Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States |
| title_full | Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States |
| title_fullStr | Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States |
| title_full_unstemmed | Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States |
| title_short | Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States |
| title_sort | fiscal reaction to increase public debt an analysis for the brazilian states |
| topic | Fiscal Reaction Brazilian States Solvency |
| url | http://www.revistas.usp.br/ecoa/article/view/111678 |
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