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Welfare cost of Inflation in Brazil: an approach with time-varying cointegration and Kalman filter
(Escola de Pós-Graduação em Economia da FGV, 2018-08-01)
This paper compares the time-varying cointegration and the Kalman filter techniques to estimate the Brazilian money demand between 1996 and 2015. The estimation using Kalman filtering performs better and is subsequently ...
Fiscal vulnerability in Brazil: a simulated method of moments approach
(Escola de Pós-Graduação em Economia da FGV, 2018-08-01)
This article estimates a structural macroeconomic model of the Brazilian economy, with emphasis on the exchange rate, interest rate, inflation and public debt risk premium. The aim is to assess the effect of different ...
An alert on the recent fall of the fiscal reaction in Brazil
(engEscola de Pós-Graduação em Economia da FGV, 2018-08)
Recent 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 ...
A time-varying fiscal reaction function for Brazil
(Escola de Pós-Graduação em Economia da FGV, 2018-05-01)
This paper evaluates the sustainability of public debt in Brazil using monthly data from January 2003 to June 2016, based on the estimation of fiscal reaction functions with time-varying coefficients. Three estimation ...
A time-varying fiscal reaction function for Brazil
(Escola de Pós-Graduação em Economia da FGV, 2017-12-01)
This paper evaluates the sustainability of public debt in Brazil using monthly data from the period between January 2003 and June 2016, based on estimation of fiscal reaction functions with time-varying coefficients. Three ...
Brazilian exchange policy
(FGV Projetos, 2010)
The foreign exchange model adopted by Brazil is a key factor for the stability and economic growth of the country. In this post-crisis period, marked by alterations in the exchange rate parity, concern about the direction ...
