We found a match
Your institution may have rights to this item. Sign in to continue.
- Title
Revisitando os Sistemas Regionais de Inovação: teoria, prática, políticas e agenda para o Brasil.
- Authors
Ramos de Abreu, Thiago Felipe; Rocha Lima, Elcyon Caiado
- Abstract
The aim of this article is to assess the effectiveness of fiscal policy in Brazil, estimating the impacts of its innovations and calculating its multipliers. A Bayesian Structural Vector Autoregression model with an innovative identification, proposed by Arias et al. (2018), which in addition to signal restrictions, zeros restrictions are also imposed in the Impulse Response Functions (IRF), so it is possible to identify shocks in which the variables of interest respond positively, negatively or null. Such methodological innovation avoids ambiguities in the identification of fiscal shocks and makes it possible to verify if their impacts are significantly affected when the government budget remains constant. The results indicate that the identification of fiscal innovations with sign and zero restrictions only identify short-run fiscal multipliers and only with the addition of zeros restrictions on GDP it is possible to get multiplier values consistent with the economic literature. Indicating a significant contribution from zero restrictions in the identification of fiscal multipliers.
- Subjects
BRAZIL; VECTOR autoregression model; IMPULSE response; FISCAL policy; FEDERAL budgets; AUTOREGRESSIVE models; STRUCTURAL models
- Publication
Nova Economia, 2022, Vol 32, Issue 3, p647
- ISSN
0103-6351
- Publication type
Article
- DOI
10.1590/0103-6351/6934