This study explains the intensity of redistributive policies of Latin American leftist governments during the so-called "left turn" in the region. Based on theoretical models that analyze the implications of inequality in democracies with different economic and institutional structures, it...

In this paper we investigate the real effects of fiscal policy in Brazil during the 1995-2008 period by estimating a VAR model that explicitly takes into consideration the role of public debt in the determination of fiscal variables, as recommended by Favero and Giavazzi (2007). According to our...

So far, there are very few papers concerning the problems of non causality and non-fundamentalness in fiscal studies. This is even truer for Brazil. Non causality and non fundamentalness are econometric problems that are specially relevant in fiscal studies, as they are relate to fiscal...

The vector autoregressive and structural vector autoregressive (VAR/SVAR) models are the cornerstone of the contemporaneous empirical macroeconomic research, in particular for measuring the impact of fiscal policy shocks. They may be employed as atheoretical models, as well as a mean to support...

As emerging economies experience a boom in capital inflows after the global financial crisis, governments were increasingly concerned about the downsides of these inflows. Even the IMF (International Monetary Fund), long a stalwart proponent of financial liberalization, has engaged in a new...

The objective of this study is to analyze the determinants of private investment, especially private participation in infrastructure, focusing on the institutional quality of emerging economies. The emerging economies analyzed (Argentina, Brazil, China, Chile, Colombia, India, Indonesia,...

The main objective of this work is to assess the challenges to be faced by Brazil to become a full member of the Organisation for Economic Co-operation and Development (OECD) in terms of tax rules related to controlled foreign companies, transfer pricing, thin capitalization, and mandatory...

Based on the hypothesis that the rulers of monetary and fiscal policy in Brazil may have been submitted to different regimes, the present study applies Leeper model (1991; 2005) in order to identify the chronology of policy regimes regarding their active and passive character. The policy rules are...