Brazilian economic policy: an optimal control theory analysis
The theory of objectives and instruments; An overview of brazilian public finance; The mechanism of the brazilian economy: an econometric model; Substantive results; The responsiveness and tax yields; Impact multipliers and built-in flexibilities.
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AN OVERVIEW OF BRAZILIAN PUBLIC FINANCE
A Brief Theoretical Discussion of the Main Sectors
The Estimation Procedure
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2SLS 3SLS allocation analysis annual assumed average Brazil Brazilian budget built-in flexibility calculated capacity utilization capita income capital changes Chapter coefficients computed consumption cruzeiros deficit developing countries difference equations direct taxes econometric model economic effects endogenous variables errors estimates exogenous federal finance fM fM foreign balances function Gini coefficient impact multipliers important income brackets income distribution increase indicated inflation tax instrument variables investment levels linear marginal tax measure money supply multicollinearity negative noted objective variables oooooooo oooooooo optimal optimal control overall percent percentage personal income tax Personal-Income Personal-Income-Tax policy instruments predictions present production public expenditures rate of growth ratio reference period regression relative relevant revenues rg rg Rio de Janeiro sales tax serial correlation significant solution Table target values tax collections tax evasion tax payments tax rates tax yields taxpayers Texc tinf Tsle United weights wmin zero