Brazilian agriculture, despite notable growth in recent years and having been responsible for a significant portion of trade surpluses, presents strong spatial heterogeneity. This paper analyzes Brazilian agriculture spatially and structurally, differentiating between permanent and temporary...

The main purpose of this paper is to calculate the effective total factor productivity (ETFP) of the Brazilian agricultural and industrial sectors during 1990-2009. The results are the following: all sectors have reached high ETFPs, with a few exceptions; however, the ETFPs have not mobilized...

Abstract Purpose Empresa Brasileira de Pesquisa Agropecuária (Embrapa, the Brazilian Agricultural Research Corporation), owned by the Brazilian Government, is one of the most efficient agencies for promoting sustainable tropical agriculture in the world. However, although information is...

Voluminous theoretical and empirical research shows that real exchange rate (RER) undervaluation could be conducive to economic development. Why do countries then often avoid the pursuit of policies that facilitate undervaluation or even intentionally pursue RER overvaluation? We address this...

We study the apparent disconnect between what countries announce to be their exchange rate regime and what they de facto implement. Even though discrepancies between announcements and de facto polices are frequent, there is a lack of understanding of actual patterns and underlying reasons. We...

This paper builds a DSGE model for a small open economy (SOE) in which the central bank intervenes the domestic currency bond and FX markets using two policy rules: a Taylor-type rule and a rule that determines the rate of nominal depreciation. The 2 'corner' regimes, in which only one policy...