994 resultados para Execução fiscal


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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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The civil construction sector in Brazil is, simultaneously, a necessity that drives the economy and an evil that degrades the environment. Simple choices adopted in an enterprise can make big difference in harm caused by constructive practices, minimizing its harmful to the environment and making it sustainable. These choices, however, involve the use of materials and techniques often unknown by the builders, since the construction industry is very traditional. Even worse, the eco-friendly materials and sustainable techniques also face another obstacle to its use: the prejudice. Builders and customers prefer traditional methods to sustain belief that they present lower quality and higher price. This work raises awareness of the urgency with traditional methods must be overridden, showing practical and simple ways for this replacement, as well as confirm the quality equal to or even higher in the use of alternative materials and techniques, without addition in cost. Thus, the benefits are generated for all parties involved, from builders to residents

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The civil construction sector in Brazil is, simultaneously, a necessity that drives the economy and an evil that degrades the environment. Simple choices adopted in an enterprise can make big difference in harm caused by constructive practices, minimizing its harmful to the environment and making it sustainable. These choices, however, involve the use of materials and techniques often unknown by the builders, since the construction industry is very traditional. Even worse, the eco-friendly materials and sustainable techniques also face another obstacle to its use: the prejudice. Builders and customers prefer traditional methods to sustain belief that they present lower quality and higher price. This work raises awareness of the urgency with traditional methods must be overridden, showing practical and simple ways for this replacement, as well as confirm the quality equal to or even higher in the use of alternative materials and techniques, without addition in cost. Thus, the benefits are generated for all parties involved, from builders to residents

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This thesis analysis micro and macro aspect of applied fiscal policy issues. The first chapter investigates the extent to which local budget spending composition reacts to fiscal rules variations. I consider the budget of Italian municipalities and exploit specific changes in the Domestic Stability Pact’s rules, to perform a difference-in-discontinuities analysis. The results show that imposing a cap on the total amount of consumption and investment is not as binding as two caps, one for consumption and a different one for investment. More specifically, consumption is triggered by changes in wages and services spending, while investment relies on infrastructure movements. In addition, there is evidence that when an increase in investment is achieved, there is also a higher budget deficit level. The second chapter intends to analyze the extent to which fiscal policy shocks are able to affect macrovariables during business cycle fluctuations, differentiating among three intervention channels: public taxation, consumption and investment. The econometric methodology implemented is a Panel Vector Autoregressive model with a structural characterization. The results show that fiscal shocks have different multipliers in relation to expansion or contraction periods: output does not react during good times while there are significant effects in bad ones. The third chapter evaluates the effects of fiscal policy announcements by the Italian government on the long-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an econometric comparative analysis between the three cabinets that followed one another during the period 2009-2013. The results suggest that only fiscal policy announcements made by members of Monti’s cabinet have been effective in influencing significantly the Italian spread in the expected direction, revealing a remarkable credibility gap between Berlusconi’s and Letta’s governments with respect to Monti’s administration.

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The overarching question of this dissertation is: “why does the public debt grow, and why are fiscal (debt) crises repetitive and so widespread?” A special focus in answering this question is given to a fiscal constitution, which contains a country-specific set of laws, rules and regulations, and guides decision making in the area of fiscal policy. By shaping incentives and limiting arbitrariness, the fiscal constitution determines the course of fiscal policy and fiscal outcomes in the long term. This dissertation does not give, however, an exhaustive response to the overarching question. Instead it asks much narrower questions, which are selected after reviewing and identifying the main weaknesses and gaps in the modern literature on fiscal constitutions.

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Conventional wisdom contends that fiscal policy was of secondary importance for the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilised gold inflows to increase the money supply. Often this is shown by measuring the fiscal multipliers and demonstrating that they were relatively small. This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.