Custos fiscais da política monetária: os efeitos indiretos de um choque de juros sobre a dívida líquida do setor público

Autor: André Diniz, Pedro Rossi, Ítalo Pedrosa, Laura Barbosa de Carvalho

Publikováno v: Brazilian Journal of Political Economy, Volume: 36, Issue: 3, Pages: 557-579, Published: SEP 2016
Brazilian Journal of Political Economy v.36 n.3 2016
Revista de Economia Política
EDITORA 34
instacron:EDITORA_34
Brazilian Journal of Political Economy, Vol 36, Iss 3, Pp 557-579 (2016)

The paper estimates the fiscal cost of an increase in the Brazilian policy interest rate - the SELIC - by considering not only the direct effect on the yield of public bonds that are indexed to the SELIC, but also indirect effects on: (i) the yield o

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