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Dívida Pública, Poupança Em Conta Corrente Do Governo E Superávit Primário: Uma Análise De Sustentabilidade

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  • Alexandre Manoel Angelo da Silva
  • Manoel Carlos de Castro Pires

Abstract

On this paper, we propose a change in the primary surplus´ target by the government current account saving. This concept excludes public investment from primary surplus. However, of this change has raised a question about if government current account saving represents a sustainable fiscal policy. Therefore, this paper has analysed 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, based on Brazilian monthly data for the period 1999-2005, suggests that the change in fiscal target has not meant a lack of sustainability.

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Bibliographic Info

Paper provided by ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics] in its series Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] with number 154.

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Date of creation: 2006
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Handle: RePEc:anp:en2006:154

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