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Master's Dissertation
DOI
https://doi.org/10.11606/D.12.2023.tde-20122023-211623
Document
Author
Full name
Yago Castro Colombi
E-mail
Institute/School/College
Knowledge Area
Date of Defense
Published
São Paulo, 2023
Supervisor
Committee
Nakane, Márcio Issao (President)
Muinhos, Marcelo Kfoury
Pereira, Robson Rodrigues
Rocha, Fabiana Fontes
Title in Portuguese
A crise do COVID-19 no Brasil, a eficácia da política monetária e fiscal
Keywords in Portuguese
Covid-19
Macroeconomia
Política fiscal
Política monetária
Abstract in Portuguese
Esse trabalho analise a crise causada pela covid-19 no Brasil utilizando um modelo DSGE. A economia possui um setor produtivo real e um setor financeiro além da presença das famílias e do governo. No modelo trabalharemos com dois tipos de agentes, os agentes ricardianos e os agentes não ricardianos. O choque da covid-19 no modelo será dado por um choque de velocidade. Como medidas adotadas pelo governo para conter os danos da covid 19 teremos um aumento das transferências do governo, uma medida de liberação de capital feita pelo banco central e uma política monetária para abaixar a taxa básica de juros. As transferências no modelo serão exclusivamente direcionadas ao agente não ricardiano. Comparamos os efeitos dos choques separadamente e em conjunto, e chegamos a conclusão que as medidas adotadas para conter o choque da covid-19 tiveram um efeito positivo em evitar um pior cenário.
Title in English
The COVID-19 crisis in Brazil, the effectiveness of monetary and fiscal policy
Keywords in English
Covid 19
Fiscal policy
Macroeconomics
Monetary policy
Abstract in English
This work analyzes the crisis caused by covid-19 in Brazil using a DSGE model. The economy has a real productive sector and a financial sector in addition to the presence of households and the government. In the model, we will work with two types of agents, Ricardian agents and non-Ricardian agents. The covid-19 shock in the model will be given by a velocity shock. As measures adopted by the government to contain the damage caused by covid 19, we will have an increase in government transfers, a capital release measure made by the central bank and a monetary policy to lower the basic interest rate. Transfers in the model will be exclusively directed to the non-ricardian agent. This work aims to contribute to the field of study on pandemics and the government's course of action. The objective is to analyze the effects of the fiscal and monetary policies that were adopted in order to contain the covid-19 crisis, and estimate their effectiveness in preventing an even greater crisis.
 
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Publishing Date
2024-01-29
 
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