Fiscal Multipliers for Brazil /

We find historical fiscal multipliers for Brazil around 0.5, larger than what existing literature typically identifies for the average emerging market. However, spending and public credit multipliers seem to have dropped to near zero since the global financial crisis, as the estimate for the whole s...

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Podrobná bibliografie
Hlavní autor: Matheson, Troy
Další autoři: Pereira, Joana
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 2016.
Edice:IMF Working Papers; Working Paper ; No. 2016/079
On-line přístup:Full text available on IMF
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Shrnutí:We find historical fiscal multipliers for Brazil around 0.5, larger than what existing literature typically identifies for the average emerging market. However, spending and public credit multipliers seem to have dropped to near zero since the global financial crisis, as the estimate for the whole sample period (1999-2014) is about 1\2 of that for precrisis years. By contrast, revenue multipliers have remained broadly stable. We conclude that fiscal consolidations based on expenditure and public credit retrenchment are likely to entail a modest drag on growth in the near term.
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Fyzický popis:1 online resource (16 pages)
Médium:Mode of access: Internet
ISSN:1018-5941
Přístup:Electronic access restricted to authorized BRAC University faculty, staff and students