Brazil: an empirical study on fiscal policy transmission

Tito Moreira ()

Revista CEPAL, 2011

Abstract: This article sets out to empirically determine whether the ratiobetween debt and gross domestic product (GDP); affected real and nominalvariables such as the demand for money, the nominal interest rate,investment and the output gap, between January 1995 and March 2008.The specific aim is to identify fiscal-policy transmission channels and decidewhether this policy was active or passive in the period in question. Thestudy finds empirical evidence that fiscal policy was active and monetarypolicy passive -features that characterize a non-Ricardian model.

Date: 2011-04
Note: Includes bibliography
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ecr:col070:11478

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