This article aims to suggest a research agenda that reconciles the macroeconomic policy with the development policy. It starts with the structural analysis of Brazilian economy in historical perspective and identifies the structural constraints to economic development in Brazil. The current...

The adoption of the Taylor rule is an essential element of the New Consensus on Monetary Policy, characterized by the recent acceptance, by the orthodoxy, of money stock endogeneity. In line with the reviewed literature, a reaction function of the Brazilian Central Bank (BCB) is estimated with a...