Dívida pública, poupança em conta corrente do governo e superávit primário : uma análise de sustetabilidade
By: SILVA, Alexandre Manoel Angelo da.
Contributor(s): PIRES, Mnoel Carlos de Castro.
Material type: ArticlePublisher: São Paulo : EDITORA 34, out./dez. 2008Revista de Economia Política = Brazilian Journal of Political Economy 28, 4, p. 612-630Abstract: Public debt, government current account saving and primary surplus: analysis of sustainability. On this paper, we propose a change in the primary surplus target by the government current account saving. That concept excludes public investment from primary surplus. However, of that change has raised a question about if government current account saving represents a sustainable fiscal policy. Thus, this paper analyses if the change in the primary surplus target by the government current account saving implies a meaning modification on the debt-to-GDP ratio path. The empirical analysis, which is based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target does not mean a lack of sustainabilityPublic debt, government current account saving and primary surplus: analysis of sustainability. On this paper, we propose a change in the primary surplus target by the government current account saving. That concept excludes public investment from primary surplus. However, of that change has raised a question about if government current account saving represents a sustainable fiscal policy. Thus, this paper analyses if the change in the primary surplus target by the government current account saving implies a meaning modification on the debt-to-GDP ratio path. The empirical analysis, which is based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target does not mean a lack of sustainability
v. 28, n. 4(112)
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