Indicadores de dívida pública: visão tradicional e novas métricas

Abstract

The present work seeks to present and discuss the issue of public debt, one of the main themes of economic policy, based on three questions: what is the traditional view of the economy on public debt? How is public debt sustainability measured? What are the explanations for the current scenario?. These questions are answered through the methodology of integrative literature review. For this reason, the study is divided into three parts: Bibliographic review of the theoretical part of the theme, presentation of fiscal policy indicators that measure public debt and exposition of the new literature on the effects of public debt on the economy. The main justification of this work is to approach a subject of great relevance in the public debate and, in this way, to contribute to the debate on this topic. For this, the second chapter explains how, in the traditional view, public debt impacts the economy in the short and long term, in addition to other areas of economic policy that are affected by public debt, to end this chapter, the Ricardian equivalence is presented. In the following chapter, the indicators of Brazilian public debt and the main indicator of sustainability of public accounts, the debt to GDP ratio, will be exposed. Finally, the fourth chapter addresses the contributions made in recent years on the subject and new ways of analyzing public debt and its sustainability will be exposed, for this the works of Blanchard (2019), Furman and Summers (2020) and Mankiw (2022) ) will be used.