Dívida Publica, Poupança em Conta Corrente do Governo e Superávit Primário: uma análise de sustentabilidade

Alexandre Silva () and Manoel Carlos de Castro Pires ()

No 1196, Discussion Papers from Instituto de Pesquisa Econômica Aplicada - IPEA

Abstract: On this paper, we propose a change in the primary surplus´ target by the government current account saving. This concept excludes public investment from primary surplus. However, of this change has raised a question about if government current account saving represents a sustainable fiscal policy. Therefore, this paper has analysed if the change in the primary surplus` target by the government current account saving implies a meaning modification on the debt-to-GDP ratio path. The empirical analysis, based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target has not meant a lack of sustainability.

Pages: 31 pages
Date: 2006-06
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Related works:
Working Paper: DÍVIDA PÚBLICA, POUPANÇA EM CONTA CORRENTE DO GOVERNO E SUPERÁVIT PRIMÁRIO: UMA ANÁLISE DE SUSTENTABILIDADE (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ipe:ipetds:1196

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