PUBLIC DEBT CYCLICALITY AND LONG-RUN GROWTH
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Publication Date: | 2009 |
Other Authors: | , |
Format: | Article |
Language: | por |
Source: | Análise Econômica (Online) |
Download full: | https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/9707 |
Summary: | 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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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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1799766264831279104 |