Series: IMF Working Papers
Author(s): Evan Tanner , and Alberto Ramos
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2002
Keywords: Intertemporal solvency, monetary and fiscal dominance, fiscal theory of the price level, primary deficit, price level, inflation, real interest rates, real interest rate, Macroeconomic - Aspects Of Public Finance, Macroeconomic Policy
Under a monetary dominant (MD) regime, the primary surplus adjusts to limit debt growth, permitting monetary policy to be conducted independently of fiscal financing requirements. In Brazil, some evidence favors an...