This paper investigates the relationship between interest rate and volatility of real effective exchange rate in Brazil. Through a simultaneous multivariate GARCH model, which allows estimating equations for the mean and variance in a single stage, it was observed that: it’s not possible to...

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 aims to outline the basis for a development strategy for Brazil. Therefore, it starts from some basic premises. First, there will be no development without social mobilization. Second, development is a planning result, in which the Government plays a key role. Besides, a development...