An RBC model of the Brazilian economy with stylized fiscal shocks

Detalhes bibliográficos
Autor(a) principal: Pereira,Rodrigo M
Data de Publicação: 2021
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402021000400622
Resumo: This paper builds a real business cycle (RBC) 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 shocksRBC modelfiscal policyBayesian estimationThis paper builds a real business cycle (RBC) 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.Fundação Getúlio Vargas2021-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402021000400622Revista Brasileira de Economia v.75 n.4 2021reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGV10.5935/0034-7140.20210024info:eu-repo/semantics/openAccessPereira,Rodrigo Meng2022-03-03T00:00:00Zoai:scielo:S0034-71402021000400622Revistahttp://bibliotecadigital.fgv.br/ojs/index.php/rbe/issue/archivehttps://old.scielo.br/oai/scielo-oai.php||rbe@fgv.br1806-91340034-7140opendoar:2022-03-03T00:00Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)false
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 M
RBC 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 M
author_facet Pereira,Rodrigo M
author_role author
dc.contributor.author.fl_str_mv Pereira,Rodrigo M
dc.subject.por.fl_str_mv RBC model
fiscal policy
Bayesian estimation
topic RBC model
fiscal policy
Bayesian estimation
description This paper builds a real business cycle (RBC) 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 2021
dc.date.none.fl_str_mv 2021-12-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402021000400622
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0034-71402021000400622
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.5935/0034-7140.20210024
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Fundação Getúlio Vargas
publisher.none.fl_str_mv Fundação Getúlio Vargas
dc.source.none.fl_str_mv Revista Brasileira de Economia v.75 n.4 2021
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
_version_ 1754115906182578176

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