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O debate sobre a redução do déficit fiscal no Brasil: uma crítica pós-keynesiana [The debate over the reduction of the fiscal deficit in Brazil: a post-Keynesian critique]

Author

Listed:
  • Mariana de Lourdes Moreira Lopes

    (Secretaria do Tesouro Nacional)

  • Maria de Lourdes Rollemberg Mollo

    (UnB)

Abstract

The article analyses the debate over fiscal deficit reduction in Brazil from a post-Keynesian perspective. After an overview of the conclusions about the role of money and of the State that are the basis of the controversies about fiscal policy, monetary policy and the consequent prescribed manner of reducing fiscal deficits, the article illustrates this debate with estimates of VAR models, and agrees with the heterodox side of the controversy.

Suggested Citation

  • Mariana de Lourdes Moreira Lopes & Maria de Lourdes Rollemberg Mollo, 2011. "O debate sobre a redução do déficit fiscal no Brasil: uma crítica pós-keynesiana [The debate over the reduction of the fiscal deficit in Brazil: a post-Keynesian critique]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 21(1), pages 67-103, January-A.
  • Handle: RePEc:nov:artigo:v:21:y:2011:i:1:p:67-103
    as

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    References listed on IDEAS

    as
    1. Obstfeld, Maurice, 1986. "Rational and Self-fulfilling Balance-of-Payments Crises," American Economic Review, American Economic Association, vol. 76(1), pages 72-81, March.
    2. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, pages 473-500.
    3. Krugman, Paul, 1979. "A Model of Balance-of-Payments Crises," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 11(3), pages 311-325, August.
    4. Gabriel Palma, 2000. "The Magical Realism of Brazilian Economics: How to Create a Financial Crisis by Trying to Avoid One," SCEPA working paper series. SCEPA's main areas of research are macroeconomic policy, inequality and poverty, and globalization. 2000-16, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    5. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, vol. 90(358), pages 314-329, June.
    6. Flood, Robert P. & Garber, Peter M., 1984. "Collapsing exchange-rate regimes : Some linear examples," Journal of International Economics, Elsevier, vol. 17(1-2), pages 1-13, August.
    7. Maurice Obstfeld, 1994. "The Logic of Currency Crises," NBER Working Papers 4640, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Post-Keynesianism; fiscal policy; monetary policy;

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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