Economic Impacts of the Vale-Cultura (Culture Voucher): A Computable General Equilibrium Model

摘要

The aim of this study is to analyze the impacts ofthe voucher system Vale-Cultura in the Brazilian cultural sector and in theeconomy in general. The methodology applied is the Brazilian Recursive DynamicGeneral Equilibrium model (BRIDGE). Our simulations found that GDP growth isdriven mainly by the increase in household consumption. There is a positivevariation in welfare, assessed by the equivalent and compensating variations inincome for beneficiaries of the vouchers. Indirect and production taxes arepositively affected because of the various effects on the economy, which partlymakes up for the government transfers to companies via tax waiver. Finally, apositive growth is projected at the level of activity of cultural sectors andnegative growth in others, showing a reallocation of productive factors.