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The recent management of Brazilian public debt

Author

Listed:
  • Pedro Maia da Cunha
  • Márcio G. P. Garcia

Abstract

We use two frameworks to analyze the recent Brazilian public debt management. The first one encompasses the Brazilian optimal public debt management analysis through the examination of the correlations among the main variables to which the public debt is indexed. The second seeks to address the consequences of recent Brazilian economic policies, such as international reserves accumulation through sterilized interventions by the Central Bank and excessive capitalization of federal financial institutions. Those policies have important, albeit often ignored, fiscal impacts, which became important to determine the current size, maturity and composition of the public debt stock. JEL Classification: H63; E58.

Suggested Citation

  • Pedro Maia da Cunha & Márcio G. P. Garcia, 2012. "The recent management of Brazilian public debt," Brazilian Journal of Political Economy, Center of Political Economy, vol. 32(2), pages 260-281.
    • Handle: RePEc:ekm:repojs:v:32:y:2012:i:2:p:260-281:id:353
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    More about this item

    Keywords

    optimal public debt management; Brazil; public bond debt;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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