An RBC model of the Brazilian economy with stylized fiscal shocks

Detalhes bibliográficos
Autor(a) principal: Pereira, Rodrigo Mendes
Data de Publicação: 2022
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: https://periodicos.fgv.br/rbe/article/view/80065
Resumo: This paper builds a small size dynamic stochastic general equilibrium (DSGE) model with government, aiming to replicate key features of the Brazilian economy. I first calibrate and then I use Bayesian methods to estimate the model for Brazil, with 20 years of quarterly aggregate data. Contrary to the conventional knowledge, I find mixed evidence on the pro-cyclicality of the fiscal policy in Brazil. Moreover, the results suggest that tax rate changes have been used to counter changes in the level of government indebtedness, however in a small degree if compared to other international evidence.
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spelling An RBC model of the Brazilian economy with stylized fiscal shocksDSGE modelFiscal PolicyBayesian EstimationThis paper builds a small size dynamic stochastic general equilibrium (DSGE) model with government, aiming to replicate key features of the Brazilian economy. I first calibrate and then I use Bayesian methods to estimate the model for Brazil, with 20 years of quarterly aggregate data. Contrary to the conventional knowledge, I find mixed evidence on the pro-cyclicality of the fiscal policy in Brazil. Moreover, the results suggest that tax rate changes have been used to counter changes in the level of government indebtedness, however in a small degree if compared to other international evidence.EGV EPGE2022-02-25info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticlesArtigosapplication/pdfhttps://periodicos.fgv.br/rbe/article/view/80065Revista Brasileira de Economia; Vol. 75 No. 4 (2021): OUT - DEZRevista Brasileira de Economia; v. 75 n. 4 (2021): OUT - DEZ1806-91340034-7140reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGVporhttps://periodicos.fgv.br/rbe/article/view/80065/80690Copyright (c) 2022 Revista Brasileira de Economiainfo:eu-repo/semantics/openAccessPereira, Rodrigo Mendes2022-02-25T18:51:06Zoai:ojs.periodicos.fgv.br:article/80065Revistahttps://periodicos.fgv.br/rbe/https://periodicos.fgv.br/rbe/oai||rbe@fgv.br1806-91340034-7140opendoar:2024-03-06T13:03:50.234987Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv An RBC model of the Brazilian economy with stylized fiscal shocks
title An RBC model of the Brazilian economy with stylized fiscal shocks
spellingShingle An RBC model of the Brazilian economy with stylized fiscal shocks
Pereira, Rodrigo Mendes
DSGE model
Fiscal Policy
Bayesian Estimation
title_short An RBC model of the Brazilian economy with stylized fiscal shocks
title_full An RBC model of the Brazilian economy with stylized fiscal shocks
title_fullStr An RBC model of the Brazilian economy with stylized fiscal shocks
title_full_unstemmed An RBC model of the Brazilian economy with stylized fiscal shocks
title_sort An RBC model of the Brazilian economy with stylized fiscal shocks
author Pereira, Rodrigo Mendes
author_facet Pereira, Rodrigo Mendes
author_role author
dc.contributor.author.fl_str_mv Pereira, Rodrigo Mendes
dc.subject.por.fl_str_mv DSGE model
Fiscal Policy
Bayesian Estimation
topic DSGE model
Fiscal Policy
Bayesian Estimation
description This paper builds a small size dynamic stochastic general equilibrium (DSGE) model with government, aiming to replicate key features of the Brazilian economy. I first calibrate and then I use Bayesian methods to estimate the model for Brazil, with 20 years of quarterly aggregate data. Contrary to the conventional knowledge, I find mixed evidence on the pro-cyclicality of the fiscal policy in Brazil. Moreover, the results suggest that tax rate changes have been used to counter changes in the level of government indebtedness, however in a small degree if compared to other international evidence.
publishDate 2022
dc.date.none.fl_str_mv 2022-02-25
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articles
Artigos
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rbe/article/view/80065
url https://periodicos.fgv.br/rbe/article/view/80065
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rbe/article/view/80065/80690
dc.rights.driver.fl_str_mv Copyright (c) 2022 Revista Brasileira de Economia
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2022 Revista Brasileira de Economia
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv EGV EPGE
publisher.none.fl_str_mv EGV EPGE
dc.source.none.fl_str_mv Revista Brasileira de Economia; Vol. 75 No. 4 (2021): OUT - DEZ
Revista Brasileira de Economia; v. 75 n. 4 (2021): OUT - DEZ
1806-9134
0034-7140
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
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