MACROECONOMIA DO BRASIL PÓS-1994
Autor(a) principal: | |
---|---|
Data de Publicação: | 2009 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Análise Econômica (Online) |
Texto Completo: | https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10727 |
Resumo: | The Brazilian macroeconomic model is characterized by financial opening, a growth strategy based on foreign savings, low (overvalued) exchange rate, current account deficits, high foreign debt, high basic (Selic) interest rate, low but inertial inflation, soft fiscal policy negative public savings, high public debt, depressed expected rates of profit, stagnant salary rate, depressed domestic savings, depressed investments, high unemployment, per capita GDP quasi-stagnant. The Brazilian economy achieved price but not macroeconomic stabilization in 1994 as long as intertemporal equilibrium was not achieved in fiscal and external accounts areas. Growth will only be resumed if monetary authorities acknowledge the interest rate and exchange rate trap in which the Brazilian economy is immersed, and decide to irwert the perverse macroeconomic equation of high basic interest rate and low exchange rate. Yet, the international and domestic orthodoxy that runs macroeconomic policy in Brazil keeps using conventional macroeconomics to understand problems which are not conventional, and, so, it is unable to achieve the required macroeconomic stabilization. |
id |
UFRGS-24_be59858e208d4f456661ef687e88d80a |
---|---|
oai_identifier_str |
oai:seer.ufrgs.br:article/10727 |
network_acronym_str |
UFRGS-24 |
network_name_str |
Análise Econômica (Online) |
repository_id_str |
|
spelling |
MACROECONOMIA DO BRASIL PÓS-1994MACROECONOMIA DO BRASIL PÓS-1994Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth.JEL ClassificationE6Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth.The Brazilian macroeconomic model is characterized by financial opening, a growth strategy based on foreign savings, low (overvalued) exchange rate, current account deficits, high foreign debt, high basic (Selic) interest rate, low but inertial inflation, soft fiscal policy negative public savings, high public debt, depressed expected rates of profit, stagnant salary rate, depressed domestic savings, depressed investments, high unemployment, per capita GDP quasi-stagnant. The Brazilian economy achieved price but not macroeconomic stabilization in 1994 as long as intertemporal equilibrium was not achieved in fiscal and external accounts areas. Growth will only be resumed if monetary authorities acknowledge the interest rate and exchange rate trap in which the Brazilian economy is immersed, and decide to irwert the perverse macroeconomic equation of high basic interest rate and low exchange rate. Yet, the international and domestic orthodoxy that runs macroeconomic policy in Brazil keeps using conventional macroeconomics to understand problems which are not conventional, and, so, it is unable to achieve the required macroeconomic stabilization.The Brazilian macroeconomic model is characterized by financial opening, a growth strategy based on foreign savings, low (overvalued) exchange rate, current account deficits, high foreign debt, high basic (Selic) interest rate, low but inertial inflation, soft fiscal policy negative public savings, high public debt, depressed expected rates of profit, stagnant salary rate, depressed domestic savings, depressed investments, high unemployment, per capita GDP quasi-stagnant. The Brazilian economy achieved price but not macroeconomic stabilization in 1994 as long as intertemporal equilibrium was not achieved in fiscal and external accounts areas. Growth will only be resumed if monetary authorities acknowledge the interest rate and exchange rate trap in which the Brazilian economy is immersed, and decide to invert the perverse macroeconomic equation of high basic interest rate and low exchange rate. Yet, the international and domestic orthodoxy that runs macroeconomic policy in Brazil keeps using conventional macroeconomics to understand problems which are not conventional, and, so, it is unable to achieve the required macroeconomic stabilization.UFRGS2009-10-09info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/1072710.22456/2176-5456.10727Análise Econômica; Vol. 21 No. 40 (2003): setembro de 2003Análise Econômica; v. 21 n. 40 (2003): setembro de 20032176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10727/6338Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessBresser-Pereira, Luiz Carlos2019-08-29T12:41:01Zoai:seer.ufrgs.br:article/10727Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2019-08-29T12:41:01Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false |
dc.title.none.fl_str_mv |
MACROECONOMIA DO BRASIL PÓS-1994 MACROECONOMIA DO BRASIL PÓS-1994 |
title |
MACROECONOMIA DO BRASIL PÓS-1994 |
spellingShingle |
MACROECONOMIA DO BRASIL PÓS-1994 Bresser-Pereira, Luiz Carlos Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. JEL Classification E6 Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. |
title_short |
MACROECONOMIA DO BRASIL PÓS-1994 |
title_full |
MACROECONOMIA DO BRASIL PÓS-1994 |
title_fullStr |
MACROECONOMIA DO BRASIL PÓS-1994 |
title_full_unstemmed |
MACROECONOMIA DO BRASIL PÓS-1994 |
title_sort |
MACROECONOMIA DO BRASIL PÓS-1994 |
author |
Bresser-Pereira, Luiz Carlos |
author_facet |
Bresser-Pereira, Luiz Carlos |
author_role |
author |
dc.contributor.author.fl_str_mv |
Bresser-Pereira, Luiz Carlos |
dc.subject.por.fl_str_mv |
Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. JEL Classification E6 Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. |
topic |
Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. JEL Classification E6 Brazilian stabilization policy. Fiscal and external problems. Interest rate and exchange rate. Inflationa and economic growth. |
description |
The Brazilian macroeconomic model is characterized by financial opening, a growth strategy based on foreign savings, low (overvalued) exchange rate, current account deficits, high foreign debt, high basic (Selic) interest rate, low but inertial inflation, soft fiscal policy negative public savings, high public debt, depressed expected rates of profit, stagnant salary rate, depressed domestic savings, depressed investments, high unemployment, per capita GDP quasi-stagnant. The Brazilian economy achieved price but not macroeconomic stabilization in 1994 as long as intertemporal equilibrium was not achieved in fiscal and external accounts areas. Growth will only be resumed if monetary authorities acknowledge the interest rate and exchange rate trap in which the Brazilian economy is immersed, and decide to irwert the perverse macroeconomic equation of high basic interest rate and low exchange rate. Yet, the international and domestic orthodoxy that runs macroeconomic policy in Brazil keeps using conventional macroeconomics to understand problems which are not conventional, and, so, it is unable to achieve the required macroeconomic stabilization. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009-10-09 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10727 10.22456/2176-5456.10727 |
url |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10727 |
identifier_str_mv |
10.22456/2176-5456.10727 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/10727/6338 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2019 Análise Econômica info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2019 Análise Econômica |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
UFRGS |
publisher.none.fl_str_mv |
UFRGS |
dc.source.none.fl_str_mv |
Análise Econômica; Vol. 21 No. 40 (2003): setembro de 2003 Análise Econômica; v. 21 n. 40 (2003): setembro de 2003 2176-5456 0102-9924 reponame:Análise Econômica (Online) instname:Universidade Federal do Rio Grande do Sul (UFRGS) instacron:UFRGS |
instname_str |
Universidade Federal do Rio Grande do Sul (UFRGS) |
instacron_str |
UFRGS |
institution |
UFRGS |
reponame_str |
Análise Econômica (Online) |
collection |
Análise Econômica (Online) |
repository.name.fl_str_mv |
Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS) |
repository.mail.fl_str_mv |
||rae@ufrgs.br |
_version_ |
1799766266145144832 |