Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus

This paper analyses the fiscal policy of constant real expenditure recently adopted by Brazil’s fiscal authorities. It also compares the policy of maintaining a primary surplus as a proportion of gross domestic product with that of changing the composition of spending in favour of investment in orde...

Descripción completa

Guardado en:

Detalles Bibliográficos
Autores principales:	Marinho, Emerson, Benegas, Mauricio
Formato:	Texto
Lenguaje:	English
Publicado:	2021
Materias:	POLITICA FISCAL GASTOS PUBLICOS CONDICIONES ECONOMICAS CONSUMO INVERSIONES TASAS DE INTERES BIENESTAR SOCIAL ANALISIS ECONOMICO FISCAL POLICY PUBLIC EXPENDITURES ECONOMIC CONDITIONS CONSUMPTION INVESTMENTS INTEREST RATES SOCIAL WELFARE ECONOMIC ANALYSIS
Acceso en línea:	http://hdl.handle.net/11362/46594
Etiquetas:	Agregar Etiqueta Sin Etiquetas, Sea el primero en etiquetar este registro!

id	oai-11362-46594
record_format	dspace
spelling	oai-11362-465942021-02-24T14:40:48Z Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus Marinho, Emerson Benegas, Mauricio POLITICA FISCAL GASTOS PUBLICOS CONDICIONES ECONOMICAS CONSUMO INVERSIONES TASAS DE INTERES BIENESTAR SOCIAL ANALISIS ECONOMICO FISCAL POLICY PUBLIC EXPENDITURES ECONOMIC CONDITIONS CONSUMPTION INVESTMENTS INTEREST RATES SOCIAL WELFARE ECONOMIC ANALYSIS This paper analyses the fiscal policy of constant real expenditure recently adopted by Brazil’s fiscal authorities. It also compares the policy of maintaining a primary surplus as a proportion of gross domestic product with that of changing the composition of spending in favour of investment in order to identify which of the two policies is more efficient in promoting economic growth. We investigate the effects of these policies on long- and short-term consumption, investment, labour supply and output and the reaction of the term structure of interest rates. We also analyse the relationship between these fiscal policies and welfare. We use a representative agent model of intertemporal utility maximization subject to budget constraint, with perfect foresight and an infinite horizon. 2021-01-18T19:42:07Z 2021-01-18T19:42:07Z 2020-08-31 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/46594 LC/PUB.2020/9-P/Rev.1 10 en CEPAL Review CEPAL Review 131 .pdf application/pdf BRASIL BRAZIL
institution	Cepal
collection	Cepal
language	English
topic	POLITICA FISCAL GASTOS PUBLICOS CONDICIONES ECONOMICAS CONSUMO INVERSIONES TASAS DE INTERES BIENESTAR SOCIAL ANALISIS ECONOMICO FISCAL POLICY PUBLIC EXPENDITURES ECONOMIC CONDITIONS CONSUMPTION INVESTMENTS INTEREST RATES SOCIAL WELFARE ECONOMIC ANALYSIS
spellingShingle	POLITICA FISCAL GASTOS PUBLICOS CONDICIONES ECONOMICAS CONSUMO INVERSIONES TASAS DE INTERES BIENESTAR SOCIAL ANALISIS ECONOMICO FISCAL POLICY PUBLIC EXPENDITURES ECONOMIC CONDITIONS CONSUMPTION INVESTMENTS INTEREST RATES SOCIAL WELFARE ECONOMIC ANALYSIS Marinho, Emerson Benegas, Mauricio Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
description	This paper analyses the fiscal policy of constant real expenditure recently adopted by Brazil’s fiscal authorities. It also compares the policy of maintaining a primary surplus as a proportion of gross domestic product with that of changing the composition of spending in favour of investment in order to identify which of the two policies is more efficient in promoting economic growth. We investigate the effects of these policies on long- and short-term consumption, investment, labour supply and output and the reaction of the term structure of interest rates. We also analyse the relationship between these fiscal policies and welfare. We use a representative agent model of intertemporal utility maximization subject to budget constraint, with perfect foresight and an infinite horizon.
format	Texto
author	Marinho, Emerson Benegas, Mauricio
author_facet	Marinho, Emerson Benegas, Mauricio
author_sort	Marinho, Emerson
title	Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
title_short	Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
title_full	Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
title_fullStr	Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
title_full_unstemmed	Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
title_sort	constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
publishDate	2021
url	http://hdl.handle.net/11362/46594
work_keys_str_mv	AT marinhoemerson constantrealexpenditurepolicythemacroeconomicimpactsofbudgetcompositionandaprimarysurplus AT benegasmauricio constantrealexpenditurepolicythemacroeconomicimpactsofbudgetcompositionandaprimarysurplus
_version_	1718438233062244352

Constant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus

Ejemplares similares