O déficit público ajustado da inflação e o argumento da reaplicação garantida
DOI:
https://doi.org/10.1590/1980-53572233vrKeywords:
public deficit, interest expenses, financial crises, indexationAbstract
As is alleged on the basis of a well-known argument,
government expenses on the inflationary component of nominal interest have "assured" refinancing. This paper shows that the argument in fact advances doubtful or wrong reasons for the inflation-adjusted public deficit, particularly because the view of investor's behavior put forth in the argument fails to reflect the teachings of the economic and financial theory of investment.
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Copyright (c) 1992 Valdir Ramalho
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