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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Détails bibliographiques
Auteur principal: Matheson, Troy
Autres auteurs: Pereira, Joana
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2016.
Collection:IMF Working Papers; Working Paper ; No. 2016/079
Accès en ligne:Full text available on IMF
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Résumé: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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Description matérielle:1 online resource (16 pages)
Format:Mode of access: Internet
ISSN:1018-5941
Accès:Electronic access restricted to authorized BRAC University faculty, staff and students