The main purpose of this paper is the empirical investigation of the business cycles responses of each of the five Brazilian regions to monetary policy innovations and other shocks. We applied a methodology integrating unobserved components and vector auto-regressions (VAR). We identified not...

Infrastructure and productivity in Brazil. This article analyses the relationship between infrastructure and total factor productivity (TFP) in Brazil during the second half of the twenty century. Public capital is used as a proxy for infrastructure capital. The hypothesis to be tested is that...