Suchergebnisse

The effects associated with stabilization programmes, specially persistent inflation accompanied by prolonged periods of recession with unemployment, attract the attention on the evaluation of the consistency between the orthodox approach and the economic situation which characterizes the crisis. The comparative study of two economic stabilization policies in Brazil, in the sixties and eighties, gives opportunity to develop an analysis of the incoherencies in the orthodox view about the roots of inflation and balance of payment disequilibria

Transformações recentes da economia mundial e suas implicações sobre o Brasil / André Moreira Cunha -- A política externa brasileira no período pós-guerra fria / Paulo Fagundes Visentini -- Segurança internacional : estrutura e risco político em mercados prioritários para o Brasil / Marco Cepik e Helena Jornada -- Ajuste do setor externo da economia brasileira : dos desequilíbrios do Plano Real à crise financeira global / Daniela Magalhães Prates -- Investimento direto e comércio exterior : a experiência brasileira recente / André Moreira Cunha e Gustavo Meira Carneiro

A contribution to the debate on the efficacy of monetary policy and some implications in the case of Brazil. The main opposition between Keynesian and Classic monetary theories is defined by the former's proposition of money non-neutrality in the long period. According to Keynes, it is not possible to describe a monetary economy's long period position without first specifying the monetary policy it is adopting. The policy is described by the choice of the short-term interest rate which exerts an important determining influence on the long term rate and, therefore, on real investment decisions. Based on this reasoning, inflation target monetary policy regimes are criticized, in particular the one adopted in post-1999 balance of payments crisis Brazil because of its deleterious impact on investment and growth. (Rev Econ Polit/GIGA)