Fiscal costs of monetary policy: indirect effects of an interest rate shock on Brazilian public net debt
ABSTRACT: 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 of public bonds that are indexed to the e...
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| Main Authors: | , , , |
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| Format: | Artigo |
| Language: | Inglês |
| Published: |
Centro de Economia Política
2016-09-01
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| Series: | Brazilian Journal of Political Economy |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572016000300557&lng=en&tlng=en |
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