This paper presents optimal rules for monetary policy in Brazil derived from a backward looking expectation model consisting of a Keynesian IS function and an Augmented Phillips Curve (IS-AS). The IS function displays a high sensitivity of aggregate demand to the real interest rate and the...

This paper aims at contributing to the debate regarding the role of the minimum wage in Brazil. This is carried out by assessing its potential effects on the labor market outcomes, as well in terms of poverty alleviation and fiscal impact. First, a succinct description of the institutional...