We extend the literature on interest group behavior and policy outcomes by examining how groups with limited resources (votes and campaign contributions) effectively influence government by manipulating media information to voters. Voters in turn lobby politicians to implement the group's...

Tenancy has been a means for labor to advance their socio-economic condition in agriculture yet in Brazil and Latin America, tenancy rates are low compared to the U.S. and the OECD countries. We test for the importance of insecure property rights in Brazil on the reluctance of landowners to rent...

We present a conceptual framework to better understand the interaction between settlement and the emergence of de facto property rights on frontiers prior to governments establishing and enforcing de jure property rights. In this framework, potential rents associated with more exclusivity drives...

The Brazilian Constitution of 1988 gave relatively strong powers to the President. We model and test Executive-Legislative relations in Brazil and demonstrate that Presidents have used pork as a political currency to exchange for votes on policy reforms. In particular Presidents Cardoso and Lula...

This article estimates the monetary policy rule followed by the Brazilian Central Bank for setting its main policy instrument, the SELIC rate, for the period after the Real Plan. In order to overcome the uncertainty over the dates at which changes in parameters occurred, this paper uses...

This paper contrasts empirically four leading models of inflation dynamics - the accelerationist Phillips curve (APC), the new Keynesian Phillips curve (NKPC), the hybrid Phillips curve (HPC), and the sticky information Phillips curve (SIPC). We employ an encompassing Phillips curve...

This article investigates the stochastic and dynamic relationship of a group of Brazilian macroeconomic variables (price and industrial production indexes, nominal exchange rate, short and medium-run nominal interest rates) for the period after the Real Plan (1996-2004). We adopt, as has become...

In this article we use the theory of conditional forecasts to develop a new Monetary Conditions Index (MCI) for Brazil and compare it to the ones constructed using the methodologies suggested by Bernanke and Mihov (1998) and Batini and Turnbull (2002). We use Sims and Zha (1999) and Waggoner and...

Alexander Gerschenkron understood the development of backward countries as a contextual process that varied from country to country depending on which perquisites were present or absent. In the past twenty years, Brazilian agriculture evolved from "backward" to an agricultural powerhouse. Its...

Social contracts about inequality and redistribution are country-specific. We rely on a model of inequality and redistribution where multiple steady states can emerge in given country. We link the model to the recent literature on beliefs and argue that beliefs are a major determinant of which...