By exploring the implications of a Multi-Sector Thirlwall’s Law, this paper reports empirical exercises that contribute to an understanding of the relationship between structural change, external constraint and growth in Brazil in the 1962-2006 period. Given the sectoral nature of these...

We study the dynamics of an inflation targeting regime in a macroeconomic context represented by a three-equation model (IS curve, Phillips curve and interest rate rule) and with heterogeneous strategies to form expectations of inflation. Economic agents choose between using the official...