An alert on the recent fall of the fiscal reaction in Brazil
Bibliographic Data
| ID | 4368979 |
|---|---|
| Authors | Eduardo Lima Campos (0000-0002-7294-8947, Fundação Getulio Vargas), Rubens Penha Cysne (0000-0001-7474-0237, Fundação Getulio Vargas) |
| Year | 2019 |
| Volume | 39 |
| Issue | 2 |
| Pages | 253-262 |
| Publication date | 2019-06-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Brazilian Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0101-3157 • E-ISSN: 1809-4538 |
| Publisher | FapUNIFESP (SciELO) (PUBLISHER) |
| DOI | 10.1590/0101-31572019-2976 |
| OpenAlex | W2894218432 |
| SciELO | S0101-31572019000200003 |
| Language | EN |
| Citations received | 2 |
| References cited | 3 |
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 decreasing since 2012. Second, it has turned from positive to negative figures as of October 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. Therefore, significant fiscal adjustments are required in the short run
Debt · Debt ratio · Economics · Fiscal policy · Function (biology · Government (linguistics · Government Debt · Macroeconomics · Monetary economics · Economic Theory and Policy · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth
| Citations per year | 0.5 |
|---|---|
| Citation span | 2022 - 2025 (4) |
| Highly cited | No |