Teoria fiscal do nível de preços: um teste para a economia brasileira no período 1966-2000

Abstract

The purpose of this paper is to test if the Brazilian fiscal regime can be classified as non-Ricardian. This question is important since the literature, based on Loyo (1999), argues that the fiscal theory of the price level can provide an explanation for the high inflation observed in Brazil during the end of the 70s and beginning of the 80s. The conclusion is that the analyzed data are inconsistent with a non-Ricardian regime.