While the finance literature often equates government banks with political capture and capital misallocation, these banks can help mitigate financial shocks. This paper examines the role of Brazil's government banks in preventing a recession during the 2008-2010 financial crisis. Government...

In the last twenty years, Brazil has undergone several attempts of improving sustainable growth through stabilization programmes, and more recently, structural reforms in line with the Washington Consensus Agenda. The results, however, have been disappointing, as the per capita output growth has...

This article evaluates the effectiveness of the counter-cyclical measures adopted by the Brazilian government to mitigate the effects of the subprime mortgage crisis, by analysing the repercussions of monetary, fiscal and credit policies on several of the main macroeconomic aggregates. The...

This paper discusses Brazil's structural reforms since the 1990s and areas where work remains to be done. Reforms of the 1990s included the containment of inflation, the adoption of a comprehensive Fiscal Responsibility Law, a successful debt restructuring program for subnational governments,...

This study examines the macroeconomic determinants of survey inflation expectations in Brazil since the adoption of inflation targeting in 1999. The results suggest that the inflation targeting framework has helped anchor expectations, with the dispersion of inflation expectations declining...

The Covid-19 pandemic has had unequal effects around the world, not simply in terms of health prospects, but also in terms of economic and social consequences. In all these aspects, Brazil is among the most affected countries. This article aims to analyze the economic and social effects of the...

During the Brazilian hyperinflation period (1980-1994), several plans to control the inflation (stabilization plans) were implemented, relying on very diverse premises and a wide range of instruments of economic policy. Nevertheless, none of these plans had obtained success in the goal of...