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

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cepal.articleNo10
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2020/9-P/Rev.1
cepal.docTypeRevistas
cepal.jelCodeE1
cepal.jelCodeE2
cepal.jelCodeH3
cepal.jobNumberRVI131_Marinho
cepal.physicalDescriptiongráficos.
cepal.regionalOfficeSantiago
cepal.sdg1
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngINVESTMENT
cepal.topicEngPROGRAMME AND POLICY EVALUATION
cepal.topicEngPUBLIC ADMINISTRATION
cepal.topicEngPUBLIC INCOME AND EXPENDITURE
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaEVALUACIÓN DE POLÍTICAS Y PROGRAMAS
cepal.topicSpaGESTIÓN PÚBLICA
cepal.topicSpaINGRESOS Y GASTOS PÚBLICOS
cepal.topicSpaINVERSIÓN
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorMarinho, Emerson
dc.contributor.authorBenegas, Mauricio
dc.coverage.spatialEngBRAZIL
dc.coverage.spatialSpaBRASIL
dc.date.accessioned2021-01-18T19:42:07Z
dc.date.available2021-01-18T19:42:07Z
dc.date.issued2020-08-31
dc.description.abstractThis 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.
dc.formatTexto
dc.format.extentpáginas. 191-21
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2020/9-P/Rev.1
dc.identifier.urihttps://hdl.handle.net/11362/46594
dc.language.isoeng
dc.physicalDescriptionp. 191-214; grafs.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo131
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordPolítica de gasto real constante: efectos macroeconómicos de la composición del presupuesto y el superávit primario
dc.relation.translationUrihttps://hdl.handle.net/11362/45960
dc.rights.coarDisponible
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngPUBLIC EXPENDITURES
dc.subject.unbisEngECONOMIC CONDITIONS
dc.subject.unbisEngCONSUMPTION
dc.subject.unbisEngINVESTMENTS
dc.subject.unbisEngINTEREST RATES
dc.subject.unbisEngSOCIAL WELFARE
dc.subject.unbisEngECONOMIC ANALYSIS
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaGASTOS PUBLICOS
dc.subject.unbisSpaCONDICIONES ECONOMICAS
dc.subject.unbisSpaCONSUMO
dc.subject.unbisSpaINVERSIONES
dc.subject.unbisSpaTASAS DE INTERES
dc.subject.unbisSpaBIENESTAR SOCIAL
dc.subject.unbisSpaANALISIS ECONOMICO
dc.titleConstant real expenditure policy: the macroeconomic impacts of budget composition and a primary surplus
dc.type.coarrevista
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