Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/91118
Authors: 
Mendonça, Mário Jorge
Pires, Manoel Carlos de Castro
Medrano, Luiz Alberto
Year of Publication: 
2008
Series/Report no.: 
Texto para Discussão, Instituto de Pesquisa Econômica Aplicada (IPEA) 1342
Abstract (Translated): 
This paper aims to evaluate how public debt management in Brazil has affected its sustainability in the 1996-2007 period. In 2003 Brazilian public debt management changed the trade off between cost minimization and risk minimization emphasizing the first element. Using a Markov-Switching model in order to model this policy change we access fiscal sustainability with Monte Carlo simulations. The results show that Brazilian public debt is sustainable in the medium run.
JEL: 
C15
H63
H68
Document Type: 
Working Paper

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