Fiscal consolidation and macroeconomic challenges in Brazil by Carlos Hamilton Araújo, Cyntia Azevedo and Sílvio Costa published by BIS (2012). “This paper explores two important points regarding the Brazilian fiscal framework. The first part analyses the significant improvement of the fiscal stance in the last decade as the result of the promotion of fiscal discipline and debt management policies…The second part studies how the coordination between monetary and fiscal policies is important in dealing with the issues that arose in the aftermath of the recent crisis…
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