Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)

Detalhes bibliográficos
Autor(a) principal: Attílio, Luccas Assis
Data de Publicação: 2023
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: https://periodicos.fgv.br/rbe/article/view/84567
Resumo: The expansionary fiscal policy in Brazil in the period 1980Q1-2019Q4 is analyzed with the GVAR. The results show that this policy can stimulate output, however, it deteriorates the macroeconomic environment with increases in prices and interest rates, and exchange rate appreciation. The fluctuations of these variables seem to explain the declines in private consumption and the current account balance. As a result of these fluctuations, the spending multiplier has an average value of 0.1. This work contributes to the literature by incorporating interactions between fiscal and monetary policy, transmission channels, and the external environment and their respective variables.
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spelling Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)Estudo da política fiscal do Brasil: análise empírica com o GVAR (1980-2019)Fiscal policy; government consumption; Product; Spending multiplier; Interest rate.Fiscal policy; fluctuationPolítica fiscal; Consumo do governo; Produto; Multiplicador do gasto; Taxa de juros.Política fiscal; FlutuaçãoThe expansionary fiscal policy in Brazil in the period 1980Q1-2019Q4 is analyzed with the GVAR. The results show that this policy can stimulate output, however, it deteriorates the macroeconomic environment with increases in prices and interest rates, and exchange rate appreciation. The fluctuations of these variables seem to explain the declines in private consumption and the current account balance. As a result of these fluctuations, the spending multiplier has an average value of 0.1. This work contributes to the literature by incorporating interactions between fiscal and monetary policy, transmission channels, and the external environment and their respective variables.Analisa-se a política fiscal expansionista no Brasil no período1980Q1-2019Q4 com o GVAR. Os resultados mostram que essa política consegue estimular o produto, todavia, ela deteriora o ambiente macroeconômico com os aumentos dos preços e dos juros e pela apreciação cambial. As flutuações destas variáveis parecem explicar as quedas do consumo privado e do saldo da conta corrente. Como resultado dessas oscilações, o multiplicador dos gastos apresenta valor médio de 0,1. Esse trabalho contribui com a literatura ao incorporar interações da política fiscal com a monetária, canais de transmissão e o ambiente externo e suas respectivas variáveis.EGV EPGE2023-03-24info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticlesArtigostextoinfo:eu-repo/semantics/otherapplication/pdfhttps://periodicos.fgv.br/rbe/article/view/84567Revista Brasileira de Economia; Vol. 76 No. 4 (2022): OUT - DEZRevista Brasileira de Economia; v. 76 n. 4 (2022): OUT - DEZ1806-91340034-7140reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGVporhttps://periodicos.fgv.br/rbe/article/view/84567/83760Brazil, 1980-2019Brasil, 1980-2019Copyright (c) 2023 Revista Brasileira de Economiainfo:eu-repo/semantics/openAccessAttílio, Luccas Assis2023-03-24T22:12:36Zoai:ojs.periodicos.fgv.br:article/84567Revistahttps://periodicos.fgv.br/rbe/https://periodicos.fgv.br/rbe/oai||rbe@fgv.br1806-91340034-7140opendoar:2024-03-06T13:03:53.248845Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
Estudo da política fiscal do Brasil: análise empírica com o GVAR (1980-2019)
title Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
spellingShingle Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
Attílio, Luccas Assis
Fiscal policy; government consumption; Product; Spending multiplier; Interest rate.
Fiscal policy; fluctuation
Política fiscal; Consumo do governo; Produto; Multiplicador do gasto; Taxa de juros.
Política fiscal; Flutuação
title_short Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
title_full Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
title_fullStr Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
title_full_unstemmed Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
title_sort Study of Brazilian fiscal policy: an empirical analysis with the GVAR (1980-2019)
author Attílio, Luccas Assis
author_facet Attílio, Luccas Assis
author_role author
dc.contributor.author.fl_str_mv Attílio, Luccas Assis
dc.subject.por.fl_str_mv Fiscal policy; government consumption; Product; Spending multiplier; Interest rate.
Fiscal policy; fluctuation
Política fiscal; Consumo do governo; Produto; Multiplicador do gasto; Taxa de juros.
Política fiscal; Flutuação
topic Fiscal policy; government consumption; Product; Spending multiplier; Interest rate.
Fiscal policy; fluctuation
Política fiscal; Consumo do governo; Produto; Multiplicador do gasto; Taxa de juros.
Política fiscal; Flutuação
description The expansionary fiscal policy in Brazil in the period 1980Q1-2019Q4 is analyzed with the GVAR. The results show that this policy can stimulate output, however, it deteriorates the macroeconomic environment with increases in prices and interest rates, and exchange rate appreciation. The fluctuations of these variables seem to explain the declines in private consumption and the current account balance. As a result of these fluctuations, the spending multiplier has an average value of 0.1. This work contributes to the literature by incorporating interactions between fiscal and monetary policy, transmission channels, and the external environment and their respective variables.
publishDate 2023
dc.date.none.fl_str_mv 2023-03-24
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articles
Artigos
texto
info:eu-repo/semantics/other
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rbe/article/view/84567
url https://periodicos.fgv.br/rbe/article/view/84567
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rbe/article/view/84567/83760
dc.rights.driver.fl_str_mv Copyright (c) 2023 Revista Brasileira de Economia
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2023 Revista Brasileira de Economia
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.coverage.none.fl_str_mv Brazil, 1980-2019
Brasil, 1980-2019
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. 76 No. 4 (2022): OUT - DEZ
Revista Brasileira de Economia; v. 76 n. 4 (2022): 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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