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Estimating A Fiscal Reaction Function: OECD Economics Department Working Papers No. 423 by Samia Omran is a document available to read on EtoBox.
This paper reviews recent trends in fiscal performance in Brazil, estimates fiscal reaction functions for the consolidated public sector and different levels of government. The empirical analysis, based on monthly data for the period 1995-2004, suggests that all levels of government react strongly to changes in indebtedness. The central government appears to follow a spend-and-tax policy: changes in revenue are affected strongly by expenditure.
- Author
- Samia Omran
- Language
- EN