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dc.creatorCosta Junior, Celso J.
dc.creatorGarcía-Cintado, Alejandro C.
dc.creatorHidalgo-Pérez, Manuel A.
dc.date.issued2021-11-04
dc.identifier.issn2196-436X
dc.identifier.urihttp://hdl.handle.net/11651/4766
dc.descriptionPolitical cycles, monetary policy, fiscal policy, Blinder-Watson decomposition, Dynamic Stochastic General Equilibrium (DSGE) model
dc.description.abstractThis paper aims to shed additional light on the existence of opportunistic and partisan political-business cycles in the Brazilian economy over the 1996-2016 period. To that end, it relies on two different approaches: (I) an Oaxaca model in the spirit of Blinder and Watson (2016); and (II) a DSGE model where fiscal and monetary policies are treated as political- regime dependent (Milani, 2010). By and large, our results from both exercises show that there existed an opportunistic behavior by all the governments studied as regards fiscal policy, and that political ideology played a role in shaping macroeconomic policies in some of the administrations that ran the country within the time span considered. Specifically, as our DSGE exercise illustrates, President Dilma Rouseff’s fiscal management differed significantly from previous governments’. In addition, we do not find any evidence of political business cycle of any type when it comes to monetary policy, in line with what the consensus in this literature states for the case of Brazil.
dc.formatapplication/PDF
dc.language.isoeng
dc.publisherCentro de Investigación y Docencia Económicas
dc.relation.ispartofLatin American Economic Review, volumen 30, número 1, noviembre de 2021
dc.rightsLa revista Latin American Economic Review autoriza a poner en acceso abierto de conformidad con las licencias CREATIVE COMMONS, aprobadas por el Consejo Académico Administrativo del CIDE, las cuales establecen los parámetros de difusión de las obras con fines no comerciales. Lo anterior sin perjuicio de los derechos morales que corresponden a los autores.
dc.source2196-436X
dc.titlePolitical cycles in Latin America: more evidence on the Brazilian economy
dc.typeArtículo
dc.accessrightsAcceso abierto
dc.recordIdentifier000004766
dc.rights.licenseCreative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 International CC BY-NC-ND
dc.identifier.citationEn: Latin American Economic Review, volumen 30, número 1, noviembre de 2021
dc.identifier.doihttps://doi.org/10.47872/laer.v30.28
dc.identifier.urlhttps://ojs.latinaer.org/laer/article/view/28


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