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Política Fiscal Através Do Ciclo E Operação Dos Estabilizadores Fiscais

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  • Fabiana Rocha

Abstract

O objetivo deste artigo é analisar a relação entre ciclo econômico e finanças públicas no Brasil. Dado que no período recente o objetivo principal da política fiscal brasileira foi satisfazer a meta de superávit primário de 4,25% do PIB acordada com o Fundo Monetário Internacional procura-se avaliar, ainda, os impactos da adoção desta meta sobre a operação plena e efetiva dos estabilizadores automáticos. Encontra-se evidência de que não houve uma tentativa deliberada e sistemática por parte das autoridades fiscais de estabilizar a economia através do ciclo usando políticas discricionárias. A política fiscal, contudo, tornou-se menos pró-cíclica depois da adoção da Lei de Responsabilidade Fiscal. Na média o comportamento fiscal tem sido consistente com um superávit de 4,25% do PIB desde 1999, usando-se uma regra fiscal de Taylor. A frequência de violações no limite do superávit diminui com o nível de superávit estrutural, sendo exigido um superávit estrutural elevado para manter o risco de um superávit menor do que a meta a um nível baixo.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Fabiana Rocha, 2007. "Política Fiscal Através Do Ciclo E Operação Dos Estabilizadores Fiscais," Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] 011, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    • Handle: RePEc:anp:en2007:011
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    File URL: http://www.anpec.org.br/encontro2007/artigos/A07A011.pdf
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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