PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH

Detalhes bibliográficos
Autor(a) principal: Teles, Vladimir Kuhl
Data de Publicação: 2009
Outros Autores: Takasago, Milene, Soares, Fernando Antônio Ribeiro
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707
Resumo: This paper investigates the relationship between public debt cyclicality and economic growth. It expands the classical Barro (1990) model by relaxing the balanced budget hypothesis, and by introducing the existence of public spending adjustments costs. Our main findings are that the optimal volatility of public debt and consequently of output is different from zero. In other words there is an optimal volatility of public debt that policy makers should achieve to maximize growth.
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spelling PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTHPUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTHTeorema de Bifurcação de Hopf. Ciclos limite. Política fiscal. Crescimento econômico.JEL classification023041Hopf bifurcation theorem. Limit cycles. Fiscal policy. Economic growth.JEL classification023041This paper investigates the relationship between public debt cyclicality and economic growth. It expands the classical Barro (1990) model by relaxing the balanced budget hypothesis, and by introducing the existence of public spending adjustments costs. Our main findings are that the optimal volatility of public debt and consequently of output is different from zero. In other words there is an optimal volatility of public debt that policy makers should achieve to maximize growth.Este artigo busca investigar a relação entre ciclicalidade da dívida pública e o crescimento econômico. O artigo de Barro (1990) é expandido por se relaxar a hipótese de orçamento equilibrado do governo e introduzindo custos de ajustamento aos gastos públicos. Os principais resultados são que a volatilidade ótima da dívida pública e consequentemente do produto são diferentes de zero. Em outras palavras isso significa que há uma volatilidade da dívida pública ótima que os “policy makers” devem alcançar para maximizar o crescimento e o bem estar.UFRGS2009-08-11info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/970710.22456/2176-5456.9707Análise Econômica; Vol. 27 No. 51 (2009): março de 2009Análise Econômica; v. 27 n. 51 (2009): março de 20092176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707/5887Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessTeles, Vladimir KuhlTakasago, MileneSoares, Fernando Antônio Ribeiro2019-08-29T12:37:29Zoai:seer.ufrgs.br:article/9707Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2019-08-29T12:37:29Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
title PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
spellingShingle PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
Teles, Vladimir Kuhl
Teorema de Bifurcação de Hopf. Ciclos limite. Política fiscal. Crescimento econômico.
JEL classification
023
041
Hopf bifurcation theorem. Limit cycles. Fiscal policy. Economic growth.
JEL classification
023
041
title_short PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
title_full PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
title_fullStr PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
title_full_unstemmed PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
title_sort PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
author Teles, Vladimir Kuhl
author_facet Teles, Vladimir Kuhl
Takasago, Milene
Soares, Fernando Antônio Ribeiro
author_role author
author2 Takasago, Milene
Soares, Fernando Antônio Ribeiro
author2_role author
author
dc.contributor.author.fl_str_mv Teles, Vladimir Kuhl
Takasago, Milene
Soares, Fernando Antônio Ribeiro
dc.subject.por.fl_str_mv Teorema de Bifurcação de Hopf. Ciclos limite. Política fiscal. Crescimento econômico.
JEL classification
023
041
Hopf bifurcation theorem. Limit cycles. Fiscal policy. Economic growth.
JEL classification
023
041
topic Teorema de Bifurcação de Hopf. Ciclos limite. Política fiscal. Crescimento econômico.
JEL classification
023
041
Hopf bifurcation theorem. Limit cycles. Fiscal policy. Economic growth.
JEL classification
023
041
description This paper investigates the relationship between public debt cyclicality and economic growth. It expands the classical Barro (1990) model by relaxing the balanced budget hypothesis, and by introducing the existence of public spending adjustments costs. Our main findings are that the optimal volatility of public debt and consequently of output is different from zero. In other words there is an optimal volatility of public debt that policy makers should achieve to maximize growth.
publishDate 2009
dc.date.none.fl_str_mv 2009-08-11
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707
10.22456/2176-5456.9707
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707
identifier_str_mv 10.22456/2176-5456.9707
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707/5887
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 27 No. 51 (2009): março de 2009
Análise Econômica; v. 27 n. 51 (2009): março de 2009
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
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