MARC details
| 000 -LEADER |
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| fixed length control field |
02913nam a2200337 a 4500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION |
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| control field |
20181210070930.0 |
| 007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION |
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| fixed length control field |
cr ||||||||||| |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
060906s2006 dcu sb i000 0 eng |
| 010 ## - LIBRARY OF CONGRESS CONTROL NUMBER |
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| LC control number |
2006618509 |
| 040 ## - CATALOGING SOURCE |
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| Original cataloging agency |
DLC |
| Transcribing agency |
DLC |
| Modifying agency |
BD-DhBPA |
| 050 00 - LIBRARY OF CONGRESS CALL NUMBER |
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| Classification number |
HG3881.5.W57 |
| 082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER |
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| Classification number |
339.520981 |
| Item number |
BLQ 2006 |
| 100 1# - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Blanco, Fernando. |
| 9 (RLIN) |
108770 |
| 245 14 - TITLE STATEMENT |
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| Title |
The quality of fiscal adjustment and the long-run growth impact of fiscal policy in Brazi /l |
| Statement of responsibility, etc. |
Fernando Blanco and Santiago Herrera. |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. |
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| Place of publication, distribution, etc. |
Washington, D.C. : |
| Name of publisher, distributor, etc. |
World Bank, |
| Date of publication, distribution, etc. |
2006 |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
41 p. ; |
| Dimensions |
23 cm. |
| 490 1# - SERIES STATEMENT |
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| Series statement |
Policy research working paper ; |
| Volume/sequential designation |
4004 |
| 500 ## - GENERAL NOTE |
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| General note |
Title from PDF file as viewed on 9/6/2006. |
| 504 ## - BIBLIOGRAPHY, ETC. NOTE |
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| Bibliography, etc. note |
Includes bibliographical references. |
| 520 3# - SUMMARY, ETC. |
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| Summary, etc. |
"The authors describe the main trends of Brazil's fiscal policy during the past decade and analyze (1) the ability to raise the primary surplus in response to external shocks, (2) the pro-cyclical nature of fiscal policy, and (3) the long-run impact of government expenditure composition and taxation. They analyze the use of the primary balance as a policy tool within the Drudi-Prati model, wherein the government uses the primary balance to reveal its commitment to service its debt. The authors verify that both the debt ratio and the primary balance are determinants of spreads and credit ratings in Brazil. But the relationship is nonlinear: the impact of the primary balance on spreads is amplified as the debt ratio increases. Using an Autoregressive Distributed Lag (ARDL) approach, the authors analyze the relationship between the primary balance and economic activity, finding a positive correlation in the long run. However, in the short run fiscal expansions are associated with primary balance reductions and vice-versa during output contractions, confirming the procyclical nature of fiscal policy in the short run. The authors use two approaches, ARDL and a cointegrating value at risk (VAR), to analyze the interaction between public expenditure composition and taxation on growth. Similar results are obtained: large elasticities of output with respect to capital stocks, a significant negative impact of taxation on long-run GDP, and a negative impact of increasing government consumption and transfer payments on GDP. These results shed light on the contribution of fiscal policy to disappointing growth performance in Brazil during the past decade. "--World Bank web site. |
| 530 ## - ADDITIONAL PHYSICAL FORM AVAILABLE NOTE |
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| Additional physical form available note |
Also available in print. |
| 538 ## - SYSTEM DETAILS NOTE |
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| System details note |
System requirements: Adobe Acrobat Reader. |
| 538 ## - SYSTEM DETAILS NOTE |
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| System details note |
Mode of access: World Wide Web. |
| 590 ## - LOCAL NOTE (RLIN) |
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| Local note |
|
| 650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name entry element |
Fiscal policy |
| Geographic subdivision |
Brazil. |
| 9 (RLIN) |
108771 |
| 651 #0 - SUBJECT ADDED ENTRY--GEOGRAPHIC NAME |
|---|
| Geographic name |
Brazil |
| General subdivision |
Appropriations and expenditures. |
| 9 (RLIN) |
108772 |
| 700 1# - ADDED ENTRY--PERSONAL NAME |
|---|
| Personal name |
Herrera, Santiago. |
| 9 (RLIN) |
108773 |
| 710 2# - ADDED ENTRY--CORPORATE NAME |
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| Corporate name or jurisdiction name as entry element |
World Bank. |
| 9 (RLIN) |
108774 |
| 830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE |
|---|
| Uniform title |
Policy research working papers (Online) ; |
| Volume/sequential designation |
4004. |
| 9 (RLIN) |
108775 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Source of classification or shelving scheme |
Dewey Decimal Classification |
| Koha item type |
Books |