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Fiscal Sustainability and Monetary Versus Fiscal Dominance [electronic resource] : Evidence From Brazil, 1991-2000, Tanner, Evan.

Author/Creator:
Tanner, Evan.
Publication:
Washington, D.C. : International Monetary Fund, 2002.
Series:
IMF eLibrary
IMF Working Papers; Working Paper No. 02/5.
IMF Working Papers; Working Paper No. 02/5
Format/Description:
Government document
Book
1 online resource (30 p.)
Local subjects:
Account deficits.
Budget balance.
Budget constraint.
Budget constraints.
Budget deficit.
Budget deficits.
Definition of seigniorage.
Fiscal adjustment.
Fiscal adjustments.
Fiscal authority.
Fiscal behavior.
Fiscal data.
Fiscal discipline.
Fiscal imbalances.
Fiscal needs.
Fiscal policies.
Fiscal policy.
Fiscal policy rules.
Fiscal regime.
Fiscal rule.
Fiscal rules.
Fiscal solvency.
Fiscal sustainability.
Fiscal theory.
Fiscal variables.
Government budget.
Government budget constraint.
Government expenditures.
High inflation.
Inflation.
Inflation targeting.
Monetary aggregate.
Monetary base.
Monetary economics.
Monetary policy.
National budget.
Nominal interest rate.
Price level.
Price stability.
Primary deficit.
Public debt.
Public finance.
Real interest rate.
Real interest rates.
Real value.
Revenue collection.
Tax collections.
Tax revenues.
Brazil.
Summary:
Under a monetary dominant (MD) regime, the primary surplus adjusts to limit debt growth, permitting monetary policy to be conducted independently of fiscal financing requirements. In Brazil, some evidence favors an MD regime for 1995–97, but not for the decade of the 1990s as a whole. While fiscal adjustments of 1999 yielded a primary surplus of about 3 percent of GDP, consistent with solvency, a credible MD regime would require further adjustments of the primary surplus if debt increases, growth falls, or interest rates rise.
Notes:
Description based on print version record.
Contributor:
Ramos, Alberto M.
Tanner, Evan.
Other format:
Print Version:
ISBN:
1451842198:
9781451842197
ISSN:
1018-5941
Publisher Number:
10.5089/9781451842197.001
Access Restriction:
Restricted for use by site license.
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