Multiplicadores Fiscais e Investimento em Infraestrutura

Moura, Guilherme V.

doi:10.5935/0034-7140.20150004

Cited by 11 publications

(11 citation statements)

References 14 publications

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“…However, three articles can be deemed as the pioneers in closing this gap. The first one is Moura (2015), where the author uses a DSGE model to derive present-value multipliers related to public consumption and investment. Although the aforementioned model has significant strengths, its main weakness has to do with the fact that the author does not consider distortionary taxes into the model, which does not contribute to enriching the debate.…”

Section: Fiscal Multiplier: Definition and Literaturementioning

confidence: 99%

Post-2008 Brazilian fiscal policy: an interpretation through the analysis of fiscal multipliers

2017

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The global crisis that erupted in 2007 led many countries to embark on countercyclical fiscal policies as a way to cushion the blow of a depressed aggregate demand. Advocates of discretionary measures emphasize that fiscal policy can indeed stimulate the economy. The main goal of this work is to assess whether the fiscal policies pursued by the Brazilian government in the aftermath of the 2008 crisis, succeeded in bringing the economy back on track in a sustainable fashion. To this end, the fiscal multipliers of five different shocks are studied in a small open-economy New Keynesian framework. Our results point to the government spending and public investment as the most effective fiscal tools for combating the crisis. However, the highest fiscal multiplier turned out to be the one associated with excise tax reductions.

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Section: Fiscal Multiplier: Definition and Literaturementioning

confidence: 99%

Post-2008 Brazilian fiscal policy: an interpretation through the analysis of fiscal multipliers

2017

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“…Esta definição dos parâmetros segue os trabalhos deMoura (2015), referente a β,Gertler (1999), referente a σ e α, e deFerrero et al (2005), para o valor de δ.…”

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Efeitos macroeconômicos da seguridade social num contexto de bônus demográfico: simulação de um modelo do ciclo da vida

Reichert

Bonini

Custodio³

2021

Rev. bras. estud. popul.

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Esse artigo analisa o impacto de política fiscal e de seguridade social em presença de bônus demográfico num modelo de equilíbrio geral dinâmico com agentes se comportando de acordo com a hipótese do ciclo da vida. Permitindo uma estrutura demográfica não estacionária, sob a hipótese do ciclo da vida, o modelo teórico captura o impacto da política fiscal e de seguridade social sobre a distribuição de renda durante a fase de bônus demográfico. O método de análise se baseia em técnicas de economia computacional para simular choques demográficos a partir do equilíbrio estacionário do modelo. O crescimento provisório da parcela da população correspondente aos trabalhadores causa aumento da poupança e redução da taxa de juros. Já o estoque de capital segue uma trajetória em forma de U invertido, tal como sugerido na literatura. A políticas que elevam o grau de contribuição da seguridade social são ferramentas de estímulo ao consumo e à redistribuição da renda em favor dos aposentados. A principal contribuição do artigo é fornecer uma análise das implicações macroeconômicas do bônus demográfico a partir de um modelo teórico com fundamentos microeconômicos para as decisões de consumo e acumulação de ativos.

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“…firstly, the multiplier-accelerator theory, which synthesized approaches proposed by John Maynard Keynes and Albert Aftalion and further developed by such international and Russian researchers as J.-L.Bailly [1], H.-U.Brautzsch, J.Günther, B.Loose, U. Ludwig, N.Nulsch [2], S.Cristian, M.Marius-Corneliu, S.AuraGabriela, M.Dorin [3], B.Domański, K.Gwosdz [4], M.Dupaigne, P.Fève [5], L.A.Kormishkina, E.D.Kormishkin, D.A.Koloskov [6], R.Lee [7], W.J.Ma [8], G.V.Moura [9], S.Ogibayashi, K.Takashima [10], T.Ovsiannikova, O.Rabtsevich, I.Yugova [11], G.Quaas [12], E.C.Urdiales, J.L.Gallardo [13], D.J.Zhao, and X.F.Gao [14]. This theory was originally designed for the national and regional level but it can be adjusted for the municipal level, too; secondly, the concept of investment management in socio-economic systems, based on the theories of added values and capital reproduction [15].…”

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confidence: 99%

The multiplier accelerator theory in the study of municipal-level investment

Казакова

Kuzminykh

2017

R-E

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Our approach combines the multiplier accelerator theory with the concept of efficient management of investment in socio-economic systems of various levels and thus it has enabled us to develop a matrix for diagnostics of investment processes by calculating investment efficiency (with the help of the investment multiplier) and the focus of the investment process (with the help of the investment accelerator). Upon these results we have mapped municipalities according to their levels of investment development and proposed a differentiated approach to managerial decision-making.These findings can be used to study investment attractiveness on the municipal level and to develop guidelines for assessment of investment attractiveness and for managerial decision-making to enhance investment efficiency.

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Multiplicadores Fiscais e Investimento em Infraestrutura

Cited by 11 publications

References 14 publications

Post-2008 Brazilian fiscal policy: an interpretation through the analysis of fiscal multipliers

Post-2008 Brazilian fiscal policy: an interpretation through the analysis of fiscal multipliers

Efeitos macroeconômicos da seguridade social num contexto de bônus demográfico: simulação de um modelo do ciclo da vida

The multiplier accelerator theory in the study of municipal-level investment

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