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


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


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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  • Alexandre Manoel Angelo da Silva & Manoel Carlos de Castro Pires, 2006. "Dívida Pública, Poupança Em Conta Corrente Do Governo E Superávit Primário: Uma Análise De Sustentabilidade," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 154, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
  • Handle: RePEc:anp:en2006:154

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    1. Pires, Manoel Carlos de Castro & Rocha, Bruno & Goto, Fábio, 2010. "Fiscal policy in times of crisis: macroeconomic effects of the primary surplus," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.

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