This paper aims to show that the fiscal and monetary counter-cyclical actions implemented by Brazilian government after the financial crisis were frugal: the monetary policy was late and slowly slackened and the fiscal policy sustain a primary surplus budget, in the opposite direction of much...

This paper investigates the following questions: what were the effects of the 1990s economic reforms on employment, wages, income inequality indicators and international competitiveness? Did economic reforms cause major or minor effects on the economy? Who were the gainers and the losers of the...