Suchergebnisse

The evaluation of a tax system - that is, the set of legal rules that governs the exercise of authoritative rule by various government entities in the form of tax collection in the country - is notoriously controversial in Brazil, as elsewhere. The tax system plays a central role in a modern economy, insofar as it affects a country's economic growth and competitiveness in various and complex ways, as well as its social and regional distribution of income. It is also a crucial way to determine how much of the costs each group of citizens and companies, and from which regions of the country, will have to shoulder to finance a given State type and size, and its provision of public services and goods.

ABSTRACT able This paper presents a critical analysis of income and profit taxes in Brazil, arguing that measures adopted in the 1980s and 1990s, as a result of mainstream recommendations, hindered the redistributive role of taxes. An examination of tax data reveals a high degree of top income concentration, low tax progressivity and violations of the principles of horizontal and vertical equity. The main reason for these distortions is the complete tax exemption of dividends, a benefit that is very rarely seen in developed countries. We propose a return to a progressivity-focused tax reform plan, a theme that has returned as a focus of debates with (Piketty, 2014).

Resumo O artigo analisa a trajetória dos investimentos públicos na economia brasileira e suas relações com ciclo econômico e regime fiscal. A abordagem de Auerbach e Gorodnichenko (2012) é utilizada para estimar multiplicadores fiscais que variam conforme o ciclo econômico. Os multiplicadores do investimento público estimados para o Brasil podem alcançar valores elevados em recessões (superiores a 2) e muito mais baixos nas expansões (no máximo 0,8). Estes resultados dão subsídios ao uso do investimento público como instrumento de política anticíclica e também indicam que sua retração em conjunturas de crise econômica como em 2015 tem fortes repercussões negativas. Por fim, o artigo explora os fatores por trás da inflexão para uma trajetória de queda da taxa de investimentos a partir de 2011, com destaque para o papel do regime fiscal.

There are many problems involved in estimating high frequency series for subnational governments. Space State Model (SSM) is a framework capable of handling some of these problems. The techniques that emerge from this approachare used to estimate monthly series for capital investments by subnational governments in Brazil during 2002-2011. SSM are also used to analyze the dynamic properties of time series. One of the most interesting results is the newly evidence of electoral cycles on investments of both municipalities and states in Brazil. These techniques might be easily generalized for other relevant series. The main objective of this work is to present a methodological framework for estimating and analyzing the development of high frequency series for Brazilians subnational governments. It offers a useful instrument for monitoring fiscal policy and for applied macroeconomic research. ; A carência de séries agregadas de alta frequência e os problemas não triviais que devem ser enfrentados para estimação destas séries criam obstáculos à pesquisa aplicada nas finanças públicas subnacionais. Os modelos de espaço de estados fornecem um arcabouço para lidar com uma ampla gama destes problemas. As técnicas que derivam desta abordagem são utilizadas para estimação e análise dos investimentos dos governos subnacionais no período 2002-2011. Entre os resultados encontrados, pode-se destacar a estimação endógena de componentes cíclicos que evidenciam a presença de ciclos políticos eleitorais. O objetivo do trabalho é apresentar um arcabouço metodológico tanto para estimação de séries atualizadas em alta frequência quanto para análise do desenvolvimento das séries das finanças públicas subnacionais, fornecendo-se um instrumental útil para o monitoramento da política fiscal e para a pesquisa macroeconômica aplicada.

This paper provides new evidence for the empirical literature that investigates the presence of political cycles in fiscal policy and, more precisely, public investments in Brazil. The approach differs from most of the studies for applying the state-space modeling. The greatest benefit is to estimate the cyclical component endogenously and with greater precision. Another difference is that it considers the presence of cycles in central, state and local investments and central government capital transfers. This allows a wider picture of the general government and intergovernmental relationships. The main contributions come from the identification of qualitative differences among the political cycles of each government level - pointing to a smaller degree of direct influence of local elections as it goes from local to state and central levels - and a close relation between cycles of central government transfers and cycles of state and local governments.

This paper provides new evidence for the empirical literature that investigates the presence of political cycles in public investments in Brazil. This approach differs from most of the studies for applying the state-space modeling whose greatest benefit is estimating the cyclical component endogenously and with greater precision. Another difference is that it considers the presence of cycles in central, states and local investments and central government capital transfers allowing a wider vision of the general government sector and of the intergovernmental relations. The main contributions come from the identification of qualitative differences among the political cycles of each government level - pointing to a smaller degree of direct influence of local elections as it progresses from local to state and central levels - and the close relation between the two-year cycles of central government transfers and of the investment of state and local levels.

This paper provides new evidence for the empirical literature that investigates the presence of political cycles in fiscal policy and, more precisely, public investments in Brazil. The approach differs from most of the studies for applying the state-space modeling. The greatest benefit is to estimate the cyclical component endogenously and with greater precision. Another difference is that it considers the presence of cycles in central, state and local investments and central government capital transfers. This allows a wider picture of the general government and intergovernmental relationships. The main contributions come from the identification of qualitative differences among the political cycles of each government level - pointing to a smaller degree of direct influence of local elections as it goes from local to state and central levels - and a close relation between cycles of central government transfers and cycles of state and local governments.

The goal of this study is to evaluate the fiscal condition of the Brazilian public sector, focusing on the situation of state governments in the North and Northeast regions of the country and on international financing for rural development. The paper comprises six sections, including this introduction. Section 2 presents a broader view of the fiscal condition of the public sector, featuring consolidated fiscal indicators from each of the three government levels (central, state and municipal). The analysis allows for the identification of tendencies in public finances from an aggregate and, therefore, non-detailed perspective. [.]

This text aims at investigating the effects of unifying the constitutional minimum levels for healthcare and education expenditures, especially in municipalities. It provides a contribution to the public debate on a series of legislative initiatives, such as the Constitutional Amendment Proposals 186/2019 and 188/2019. The analysis is based on primary data from budget reports of the Brazilian Union, the States and the Federal District, and the Municipalities. Results show that expenditures in both areas exceeded the sum of the minimums in each level of government. This surplus is higher for education, in the case of the Union, the States and the Federal District. Whereas in the case of Municipalities the surplus if higher for healthcare. The detailed analysis of expenditures (as percentage of total revenues) points that 80% of the 5,480 municipalities with available data were above 15.75% for healthcare and 26.25% for education, which exceeds the respective minimums of 15% and 25%. With regard to the risk of decreasing expenditures in a scenario of minimums unification, it is identified that 951 municipalities face a higher risk in the area of education, given the fact that their education expenditures are close to the border of the minimum and healthcare expenditures are above the minimum boundary. While 97 municipalities face higher risk in the area of healthcare, as the healthcare expenditure is close to the minimum border and education expenditure is far from it. These findings support the hypothesis that, in a context of competition between financial sources, healthcare expenditures tend to be more resilient, since they are less elastic, and, therefore, education expenditures are at greater risk of suffering losses.