The fiscal policy in Brazil: a TVAR approach
Autor(a) principal: | |
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Data de Publicação: | 2017 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/22300 |
Resumo: | Following Ferraresi et al. (2015), this work studies the relationship between fiscal policy and gdp growth and different fiscal multipliers given different credit market conditions in developing countries. This study focus on the brazilian economy and estimates a Threshold VAR utilizing brazilian quarterly data from 1996-2014. Although higher fiscal multipliers are found when the brazilian credit market is tight and lower ones when the market is normal, there is no statistical significance in these results. Additionally, a robustness check is made by changing the threshold variable from credit outstanding of houlseholds to credit outstanding of the industry. The results found also imply the idea of different responses depending on the credit market regime of Brazil. Therefore, the results go in line with international literature for developed countries, but also confirm the hypothesis that countries with less efficient financial markets have stronger fiscal multiplier results. |
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The fiscal policy in Brazil: a TVAR approachTVAR modelGirfFiscal policyCredit marketFiscal multipliersDomínio/Área Científica::Ciências Sociais::Economia e GestãoFollowing Ferraresi et al. (2015), this work studies the relationship between fiscal policy and gdp growth and different fiscal multipliers given different credit market conditions in developing countries. This study focus on the brazilian economy and estimates a Threshold VAR utilizing brazilian quarterly data from 1996-2014. Although higher fiscal multipliers are found when the brazilian credit market is tight and lower ones when the market is normal, there is no statistical significance in these results. Additionally, a robustness check is made by changing the threshold variable from credit outstanding of houlseholds to credit outstanding of the industry. The results found also imply the idea of different responses depending on the credit market regime of Brazil. Therefore, the results go in line with international literature for developed countries, but also confirm the hypothesis that countries with less efficient financial markets have stronger fiscal multiplier results.Santos, Marcelo Rodrigues dosRodrigues, Paulo Manuel MarquesRUNSpellanzon, Bruno2017-07-31T12:45:29Z2017-01-202017-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/22300TID:201716755enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:09:46Zoai:run.unl.pt:10362/22300Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:27:14.163146Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The fiscal policy in Brazil: a TVAR approach |
title |
The fiscal policy in Brazil: a TVAR approach |
spellingShingle |
The fiscal policy in Brazil: a TVAR approach Spellanzon, Bruno TVAR model Girf Fiscal policy Credit market Fiscal multipliers Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
The fiscal policy in Brazil: a TVAR approach |
title_full |
The fiscal policy in Brazil: a TVAR approach |
title_fullStr |
The fiscal policy in Brazil: a TVAR approach |
title_full_unstemmed |
The fiscal policy in Brazil: a TVAR approach |
title_sort |
The fiscal policy in Brazil: a TVAR approach |
author |
Spellanzon, Bruno |
author_facet |
Spellanzon, Bruno |
author_role |
author |
dc.contributor.none.fl_str_mv |
Santos, Marcelo Rodrigues dos Rodrigues, Paulo Manuel Marques RUN |
dc.contributor.author.fl_str_mv |
Spellanzon, Bruno |
dc.subject.por.fl_str_mv |
TVAR model Girf Fiscal policy Credit market Fiscal multipliers Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
TVAR model Girf Fiscal policy Credit market Fiscal multipliers Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
Following Ferraresi et al. (2015), this work studies the relationship between fiscal policy and gdp growth and different fiscal multipliers given different credit market conditions in developing countries. This study focus on the brazilian economy and estimates a Threshold VAR utilizing brazilian quarterly data from 1996-2014. Although higher fiscal multipliers are found when the brazilian credit market is tight and lower ones when the market is normal, there is no statistical significance in these results. Additionally, a robustness check is made by changing the threshold variable from credit outstanding of houlseholds to credit outstanding of the industry. The results found also imply the idea of different responses depending on the credit market regime of Brazil. Therefore, the results go in line with international literature for developed countries, but also confirm the hypothesis that countries with less efficient financial markets have stronger fiscal multiplier results. |
publishDate |
2017 |
dc.date.none.fl_str_mv |
2017-07-31T12:45:29Z 2017-01-20 2017-01-20T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/22300 TID:201716755 |
url |
http://hdl.handle.net/10362/22300 |
identifier_str_mv |
TID:201716755 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799137901152305152 |