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Type:	Dissertação
Title:	Evaluating the presence of state dependent fiscal multiplier in Brazil
Authors:	Berto Carvalho da Silva Junior
First Advisor:	Mauro Sayar Ferreira
Abstract:	This study uses local projection technique to investigate the size of the fiscal multiplier in Brazil after allowing for the possibility of distinguished impacts depending on the state of the economic activity. The analyses rely on the time series of central government expenditure adjusted according to the methodology developed by Orair et al. (2016), which we extend until 2019, to incorporate expenses that have not been properly placed in the government account. The 1-year fiscal expenditure multiplier on the GDP is around 2 during states of slackness and -2 in regular states, suggesting a crowding out effect in the last case. The 1-year fiscal expenditure multiplier on household consumption and investment is significant and close to 0.8 in states of slackness being negative but not significant in regular states of economic activity. The 1-year multiplier on industry and service value added are close to 1 in slackness, and not significant during regular states.
Subject:	Política tributária Brasil Finanças públicas Economia
language:	eng
metadata.dc.publisher.country:	Brasil
Publisher:	Universidade Federal de Minas Gerais
Publisher Initials:	UFMG
metadata.dc.publisher.program:	Programa de Pós-Graduação em Economia
Rights:	Acesso Aberto
URI:	http://hdl.handle.net/1843/42540
Issue Date:	29-Oct-2021
Appears in Collections:	Dissertações de Mestrado

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