Resumo Discussão acerca da crise fiscal dos estados e do Regime de Recuperação Fiscal (RRF), promulgado no ano 2017, cujas medidas ajuste são apontadas como fundamentais para o equilíbrio das contas públicas estaduais que representam, entanto, sob a perspectiva federativa, um enfraquecimento brasileiros, já tais afetam autonomia político-administrativa destes entes subnacionais. O estado Rio Ja...

a r t i c l e i n f o a b s t r a c t JEL classification: H77 H11 H71 R11 R58 Keywords: Fiscal federalism State and local taxation Intergovernmental relations Revenue First generation fiscal federalism (FGFF) studies the performance of decentralized systems under the assumption of benevolent social planners. Second generation fiscal federalism (SGFF) studies performance based on the fiscal and ...

This paper reviews the analysis of fiscal policy in the new open economy macroeconomics literature, in view of increasing interest in the question of transmission and coordination of policies across countries, stirred by developments in this literature and by the formation of the euro area. The analysis focuses on two main points: (i) the identification of welfare spillover effects to third cou...

The global financial crisis that has struck in 2008 and the ensuing global recession of 2009–2012 have led to a renewed interest in macroeconomic adjustment and macroeconomic management. At a paradigmatic level, standard approaches—be they more of a neo-classical or Keynesian nature—appear to be inadequate to explain the complete patterns and persistence of fluctuations seen during the crisis. ...

This study explores the effects of macroeconomic policies on measures of macroeconomic performance such as growth and inflation by setting up a dynamic post-Keynesian model with government and central bank interventions. In doing so, this study reconsiders the arguments in favor of a policy regime. The model in this paper generates several varieties of economic growth regimes and inflation dyna...

In most cases authors are permitted to post their version of the article (e.g. in Word or Tex form) to their personal website or institutional repository. Authors requiring further information regarding Elsevier's archiving and manuscript policies are encouraged to visit: JEL classification: E32 E52 E62 E63 Keywords: Optimal simple policy rules Timeless perspective optimal policy Monetary polic...

This paper develops the fiscal health index of 21 local governments in Taiwan over the 1984 to 2010 period. A quantile regression analysis was used to explore the extent that economic variables, political budget cycles, and legislative checks and balances, impact different quantiles of fiscal health index for a country over a sample period of time. Our findings suggest that local governments at...

This paper investigates the link between public debt and inflation considering Fiscal Theory of Price Level (FTPL) with data from Paraguay. Unlike other studies, also considers this relationship according to monetary regime. The fiscal policy actions are evaluated in a structural vector autoregressive combined variables interpreted using impulse responses. results highlight importance different...