文章基本信息

标题：Fiscal Reaction to Increase Public Debt: An analysis for the Brazilian States
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作者：Francisco José Silva Tabosa ; Roberto Tatiwa Ferreira ; Andrei Gomes Simonassi 等
期刊名称：Economia Aplicada
印刷版ISSN：1413-8050
电子版ISSN：1980-5330
出版年度：2016
卷号：20
期号：1
DOI：10.11606/1413-8050/ea134918
语种：Portuguese
出版社：Economia Aplicada
摘要：The study proposes an investigation into the ability of the Brazilian states to keep sustainable the trajectory of its public debt that, in spite of the Fiscal Restructuration Proposals, as the Law 9.496/97 and the Law of Fiscal Responsibility, increased between 2006 and 2011. The methodology adapted the fiscal reaction function of Bohn (2007) to a panel data structure and includes the possibility of threshold effects, such as in Hansen (1999). Thus, the reactions by the states with higher levels of debt were allowed be different from the others. The results showed that, as a rule, there is no active fiscal policy of the states in terms of generating primary surplus against the increase of the public debt.