Banca de QUALIFICAÇÃO: Raphael José Pereira Freitas

Uma banca de QUALIFICAÇÃO de DOUTORADO foi cadastrada pelo programa.
STUDENT : Raphael José Pereira Freitas
DATE: 28/09/2023
TIME: 17:30
LOCAL: Vídeo Conferência
TITLE:

The Interdependence between Monetary and Fiscal Policies in Brazil from a Bounded Rationality Perspectiv

KEY WORDS:

Brazilian Economy; Economic Expectations; DSGE Models; Brazilian Monetary and Fiscal Policies; Bounded Rationality.

PAGES: 35
BIG AREA: Ciências Sociais Aplicadas
AREA: Economia
SUMMARY:

This paper will analyze the interdependence between monetary and fiscal policies in Brazil, considering the concept of bounded rationality. The central problem addressed is the impact of expectations about the future on the behavior of intertemporal discounting in the present. To this end, this paper will use Bayesian estimations of a New-Keynesian DSGE macroeconomic model, with quarterly data spanning from 1999 to 2023, and will compare the results between the rational and behavioral approaches. The underlying hypothesis is that the behavioral approach of the proposed model is more in line with the traditional expected behavior of Brazilian monetary and fiscal policies compared to the rational approach, and suggests the presence of evidence of fiscal dominance in the Brazilian economy. The specific objectives include estimating different intertemporal discount parameters for the rational and behavioral approaches, evaluating the behavior of monetary and fiscal policies when there is limitation or leniency regarding the time horizon of economic agents' expectations, and investigating possible evidence of fiscal dominance in the Brazilian economy. This paper aims to contribute to a better understanding of the dynamics of economic policies in the context of bounded rationality, providing relevant advances for the formulation of public policies and opening new perspectives for the analysis of the interaction between monetary and fiscal policies in Brazil.

COMMITTEE MEMBERS:
Presidente - ***.856.560-** - JOAQUIM PINTO DE ANDRADE - NÃO INFORMADO
Externo à Instituição - JOSE ANGELO COSTA DO AMOR DIVINO - UCB
Interno - ***.012.567-** - MANOEL CARLOS DE CASTRO PIRES - UnB