Estimating a Fiscal Reaction Function: The Case of Debt Sustainability in Brazil
收藏Organisation for Economic Co-operation and Development2026-04-11 收录
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This paper reviews recent trends in fiscal performance in Brazil, estimates fiscal reaction functions for the consolidated public sector and different levels of government, and tests for the sustainability of the public debt dynamics. The empirical analysis, based on monthly data for the period 1995-2004, suggests that all levels of government...
