This paper estimates the primary structural budget balance (eliminating the effects due to cyclical fluctuations in GDP and oil price) for the central government and public administrations from 1997 to the second quarter of 2010. Some adjustments were made on the IMF methodology to account for...

This paper tries to contribute to the current discussion on sharing rules of royalties in Brazil from theoretical and empirical reflections about fiscal federalism and from a comparative analysis of the experiences of oil producing countries that, as our example, organize themselves like...

This article presents new monthly estimates of the gross fixed capital formation of the Brazilian general government for the 2002-2010 years. A significant research effort was made to carry out the estimations. First, the many differences between the concepts of "public investment" (as used in...

This article discusses the dynamics of both the size and the composition of the Brazilian aggregate tax burden (BATB) in the 1995-2007 period and presents several (linear and non-linear) econometric specifications for this last variable. Our main conclusion - based both on the analysis of the...

This paper analyses the changes in orientation and composition of Brazilian fiscal policy, focusing on three recent periods and seeking to explore their relationship with economic performance. The first period (2005-2010) was characterised by fiscal expansion, with public investment and...

This Discussion Paper presents an overview of Brazilian public finances through a meticulous work of adjusting and consolidating fiscal statistics, in which central government data were adjusted to deal with creative accounting and subsequently consolidated with data from subnational...