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dc.contributor.authorCampos, Eduardo Lima
dc.contributor.authorCysne, Rubens Penha
dc.date.accessioned2018-09-06T12:55:40Z
dc.date.available2018-09-06T12:55:40Z
dc.date.issued2018-08por
dc.identifier.issn0104-8910
dc.identifier.urihttp://hdl.handle.net/10438/24715
dc.description.abstractRecent evaluations of how the Brazilian government’s primary surplus reacts to the evolution of the debt to GDP ratio convey two important (and worrisome) messages: first, the reaction function has been almost steadily decreasing since 2012. Second, it has turned from positive to negative figures as of October of 2017. With effective real interest rates (over the net government debt) higher than prospects of GDP growth, negative figures for the fiscal reaction function mean a non-sustainable debt trajectory. Significant fiscal adjustments will have to be made in the short run.eng
dc.publishereng
dc.publisherEscola de Pós-Graduação em Economia da FGVpor
dc.relation.ispartofseriesEnsaios Econômicos;799
dc.subjectBrazileng
dc.subjectPublic debteng
dc.subjectFiscal reactioneng
dc.subjectFiscal sustainabilityeng
dc.subjectKalman filtereng
dc.titleAn alert on the recent fall of the fiscal reaction in Brazileng
dc.typeTechnical Reporteng
dc.subject.areaEconomiapor
dc.contributor.unidadefgvEscolas::EPGEpor
dc.subject.bibliodataDívida pública - Brasilpor
dc.subject.bibliodataPolítica tributária - Brasilpor
dc.subject.bibliodataKalman, Filtragem depor
dc.contributor.affiliationFGV


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