The effect of monetary and fiscal credibility on public debt: empirical evidence from the Brazilian economy

被引：9
作者：
de Mendonca, Helder Ferreira [1 ]
Auel, Gabriela Elise
机构：
[1] Univ Fed Fluminense, Dept Econ, Rio De Janeiro, Brazil
来源：
APPLIED ECONOMICS LETTERS | 2016年 / 23卷 / 11期
关键词：
Public debt; fiscal credibility; monetary credibility; inflation targeting; E62; E63; EMERGING ECONOMY; INFLATION;
D O I：
10.1080/13504851.2015.1111980
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study relates to the literature regarding credibility effect on public debt for developing economies under inflation targeting. The novelty is the investigation of effects of both monetary and fiscal credibility on public debt and its management. The main idea is that high credibility might improve public debt management. With this purpose, this paper addresses empirical evidence based on the Brazilian experience. The findings denote that credibility is an important instrument to improve the public debt management under inflation targeting.
引用
收藏
页码：816 / 821
页数：6
相关论文
共 12 条
  • [1] Calvo G, 1997, PANEL 3 ARE WE GLOBA
  • [2] Inflation targeting credibility and reputation: The consequences for the interest rate
    de Mendonca, Heider Ferreira
    de Guimares e Souza, Gustavo Jose
    [J]. ECONOMIC MODELLING, 2009, 26 (06) : 1228 - 1238
  • [3] Towards credibility from inflation targeting:: the Brazilian experience
    de Mendonca, Helder
    [J]. APPLIED ECONOMICS, 2007, 39 (20) : 2599 - 2615
  • [4] The Effect of Monetary and Fiscal Credibility on Exchange Rate Pass-Through in an Emerging Economy
    De Mendonca, Helder Ferreira
    Tostes, Felipe Santos
    [J]. OPEN ECONOMIES REVIEW, 2015, 26 (04) : 787 - 816
  • [5] Transparency and inflation: What is the effect on the Brazilian economy?
    de Mendonca, Helder Ferreira
    de Siqueira Galveas, Karine Alves
    [J]. ECONOMIC SYSTEMS, 2013, 37 (01) : 69 - 80
  • [6] Public debt management and credibility: Evidence from an emerging economy
    de Mendonca, Helder Ferreira
    Machado, Marcelo Range
    [J]. ECONOMIC MODELLING, 2013, 30 : 10 - 21
  • [7] Georges P., 2006, PUBLIC FINANCE MANAG, V6, P206
  • [8] IMF (International Monetary Fund), 2011, FISC MON UPD STRENGT
  • [9] Kanoun S, 2014, ASIAN EC FINANC REV, V4, P1314
  • [10] Inflation targeting in emerging-market countries
    Mishkin, FS
    [J]. AMERICAN ECONOMIC REVIEW, 2000, 90 (02) : 105 - 109
12