Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*

Detalhes bibliográficos
Autor(a) principal: Ellery Jr., Roberto
Data de Publicação: 2014
Outros Autores: Gomes, Victor
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: BBR. Brazilian Business Review (English edition. Online)
Texto Completo: http://www.bbronline.com.br/index.php/bbr/article/view/257
Resumo: This article has two objectives. The first is to show the impact of distortionary taxes during a period of the economic cycle in Brazil. The second is to show that an explanation for output to grow slower than productivity is the increase in taxes on productive factors: capital and labor. To attain these two objectives, we carried out a study comparing the Brazilian economy with simulated data from the neoclassical model of economic growth with and without distortionary taxes. The empirical results show that the model without taxes predicts stronger growth than observed between 2003 and 2007. This point was addressed using the neoclassical growth model with distortionary taxes. However, this model produces a lower output path than observed. Besides this, both models fail to appropriately account for the behavior of the labor market. 
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spelling Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*Política Fiscal, Choques de Oferta e a Expansão Econômica de 2003-2007growth accountingtotal factor productivitydynamic general equilibriumcontabilidade do crescimentoprodutividade total dos fatoresequilíbrio geral dinâmicoThis article has two objectives. The first is to show the impact of distortionary taxes during a period of the economic cycle in Brazil. The second is to show that an explanation for output to grow slower than productivity is the increase in taxes on productive factors: capital and labor. To attain these two objectives, we carried out a study comparing the Brazilian economy with simulated data from the neoclassical model of economic growth with and without distortionary taxes. The empirical results show that the model without taxes predicts stronger growth than observed between 2003 and 2007. This point was addressed using the neoclassical growth model with distortionary taxes. However, this model produces a lower output path than observed. Besides this, both models fail to appropriately account for the behavior of the labor market. Este artigo possui dois objetivos. O primeiro é mostrar o impacto de impostos distorcivos sobre um período do ciclo econômico no Brasil. O segundo é mostrar que uma explicação para o crescimento do produto abaixo do crescimento da produtividade seria o aumento dos impostos sobre os fatores produtivos, capital e trabalho. Para atingir estes dois objetivos realizamos um estudo da comparação da economia brasileira com os dados simulados do modelo neoclássico de crescimento econômico com impostos distorcivos. Os resultados empíricos mostraram que o modelo sem impostos prevê crescimento maior do que o observado entre 2003 e 2007. Este ponto foi atacado utilizando o modelo neoclássico de crescimento com impostos distorcivos. Entretanto, este último modelo produz uma trajetória de produto mais baixa do que a observada. Além disso, ambos os modelos falham em contabilizar apropriadamente pelo comportamento do mercado de trabalho.FUCAPE Business Shool2014-05-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/25710.15728/bbr.2014.11.3.3Brazilian Business Review; Vol. 11 No. 3 (2014): May to June 2014; 53-75Brazilian Business Review; v. 11 n. 3 (2014): Maio a Junho de 2014; 53-751808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/257/389http://www.bbronline.com.br/index.php/bbr/article/view/257/390Ellery Jr., RobertoGomes, Victorinfo:eu-repo/semantics/openAccess2018-11-06T19:50:41Zoai:ojs.pkp.sfu.ca:article/257Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2018-11-06T19:50:41BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false
dc.title.none.fl_str_mv Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
Política Fiscal, Choques de Oferta e a Expansão Econômica de 2003-2007
title Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
spellingShingle Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
Ellery Jr., Roberto
growth accounting
total factor productivity
dynamic general equilibrium
contabilidade do crescimento
produtividade total dos fatores
equilíbrio geral dinâmico
title_short Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
title_full Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
title_fullStr Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
title_full_unstemmed Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
title_sort Fiscal Policy, Supply Shocks and Economic Expansion in Brazil from 2003 to 2007*
author Ellery Jr., Roberto
author_facet Ellery Jr., Roberto
Gomes, Victor
author_role author
author2 Gomes, Victor
author2_role author
dc.contributor.author.fl_str_mv Ellery Jr., Roberto
Gomes, Victor
dc.subject.por.fl_str_mv growth accounting
total factor productivity
dynamic general equilibrium
contabilidade do crescimento
produtividade total dos fatores
equilíbrio geral dinâmico
topic growth accounting
total factor productivity
dynamic general equilibrium
contabilidade do crescimento
produtividade total dos fatores
equilíbrio geral dinâmico
description This article has two objectives. The first is to show the impact of distortionary taxes during a period of the economic cycle in Brazil. The second is to show that an explanation for output to grow slower than productivity is the increase in taxes on productive factors: capital and labor. To attain these two objectives, we carried out a study comparing the Brazilian economy with simulated data from the neoclassical model of economic growth with and without distortionary taxes. The empirical results show that the model without taxes predicts stronger growth than observed between 2003 and 2007. This point was addressed using the neoclassical growth model with distortionary taxes. However, this model produces a lower output path than observed. Besides this, both models fail to appropriately account for the behavior of the labor market. 
publishDate 2014
dc.date.none.fl_str_mv 2014-05-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Artigo revisado pelos pares
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/257
10.15728/bbr.2014.11.3.3
url http://www.bbronline.com.br/index.php/bbr/article/view/257
identifier_str_mv 10.15728/bbr.2014.11.3.3
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/257/389
http://www.bbronline.com.br/index.php/bbr/article/view/257/390
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv FUCAPE Business Shool
publisher.none.fl_str_mv FUCAPE Business Shool
dc.source.none.fl_str_mv Brazilian Business Review; Vol. 11 No. 3 (2014): May to June 2014; 53-75
Brazilian Business Review; v. 11 n. 3 (2014): Maio a Junho de 2014; 53-75
1808-2386
1807-734X
reponame:BBR. Brazilian Business Review (English edition. Online)
instname:Fucape Business School (FBS)
instacron:FBS
instname_str Fucape Business School (FBS)
instacron_str FBS
institution FBS
reponame_str BBR. Brazilian Business Review (English edition. Online)
collection BBR. Brazilian Business Review (English edition. Online)
repository.name.fl_str_mv BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)
repository.mail.fl_str_mv || bbronline@bbronline.com.br
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