The Federal domestic debt and state governments: the impact of the state debts on the federal governemnt finances
Viviane Luporini ()
Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais
This paper investigates how the finances of the Brazilian federal government responded to innovations in the debts of the most indebted states, São Paulo, Minas Gerais, Rio de Janeiro and Rio Grande do Sul. Using monthly data from 1981 to 1998, a vector autoregression system (VAR) is estimated to investigate the relationship between the federal government finances and the state debts. Results have indicated that state debts are relatively important to the forecast of the federal domestic debt when compared to the impact of a shock to government expenditures or tax revenues, but the effect of the state debts on the federal debt is very small when compared to the effects of a shock to the real interest rate.
Keywords: Federal debt; state debts; fiscal consolidation; Brazil (search for similar items in EconPapers)
JEL-codes: H63 (search for similar items in EconPapers)
References: View complete reference list from CitEc
Citations Track citations by RSS feed
Published in Revista de Economia Aplicada, 2000.
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:cdp:texdis:td135
Ordering information: This working paper can be ordered from
Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil
Access Statistics for this paper
More papers in Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil. Contact information at EDIRC.
Series data maintained by Gustavo Britto ().