Publicação
Regras e discricionaridade da política orçamental: um estudo empírico para Portugal.
| Resumo: | The recent developments in the European economy, in general, and in Portugal, in particular, brought to the public debate the issue of the importance and the role of fiscal policy. The central point of this controversy is the dichotomy between discretionary fiscal policy and mies based fiscal policy, often referred as automatic fiscal stabilizers. On one hand, tliere are economists that defend the advantages of the automatic stabilizers on the economic cycle smoothing and. on the other hand; tliere are those ones that defend the implementation of discretionary fiscal measures to face adverse economic conditions. This work then arises to find answers to this discussion based on an empirical study for Portugal, from the first quarter of 1982 to the forth quarter of 2000, Using a structural VAR model, with GDP, Total Net Revenue and Total Spending, we identify, using institutional information, the automatic fiscal stabilizers. Having identified the structural shocks, the model is simulated to determine the effects of discretionary fiscal policy. These effects are then compared with the main results of others works in these area. |
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| Autores principais: | Ferreira, Raquel dos Santos |
| Assunto: | Regras de política orçamental Estabilizadores automáticos Política orçamental discricionária Vectores autoregressivos (Vars) estruturais Choques estruturais Portugal Fiscal policy rules Fiscal stabilizers Discretionary fiscal policy Structural vector autoregressive Structural shocks |
| Ano: | 2004 |
| País: | Portugal |
| Tipo de documento: | dissertação de mestrado |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | português |
| Origem: | Repositório da Universidade de Lisboa |
| Resumo: | The recent developments in the European economy, in general, and in Portugal, in particular, brought to the public debate the issue of the importance and the role of fiscal policy. The central point of this controversy is the dichotomy between discretionary fiscal policy and mies based fiscal policy, often referred as automatic fiscal stabilizers. On one hand, tliere are economists that defend the advantages of the automatic stabilizers on the economic cycle smoothing and. on the other hand; tliere are those ones that defend the implementation of discretionary fiscal measures to face adverse economic conditions. This work then arises to find answers to this discussion based on an empirical study for Portugal, from the first quarter of 1982 to the forth quarter of 2000, Using a structural VAR model, with GDP, Total Net Revenue and Total Spending, we identify, using institutional information, the automatic fiscal stabilizers. Having identified the structural shocks, the model is simulated to determine the effects of discretionary fiscal policy. These effects are then compared with the main results of others works in these area. |
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