This article verifies the occurrence of a real estate bubble in the Brazilian economy. Overall, our results suggest the existence of a bubble in the real estate sector of the economy. The Austrian School of economics provides a solid explanation to this phenomenon, which are reinforced by...

This article estimates the stance of fiscal policy using the framework of conditional forecasting to evaluate the stance in Brazil since 1997. This indicator is measured as the deviation of forecast of the output gap conditional to the observed values and steady-state values of the instruments...

This paper presents a tax reform proposal on consumption in Brazil. The basic idea is to add several taxes in a single Value Added Tax (VAT). Unlike the other proposals, which suggest a strategy automatically encompassing all federated entities, our study suggests a dual and modular reform based...

This paper presents a tax reform proposal on consumption in Brazil. The basic idea is to add several taxes in a single Value Added Tax (VAT). Unlike the other proposals, which suggest a strategy automatically encompassing all federated entities, our study suggests a dual and modular reform based...

This article summarizes the studies about the Phillips curve in the Brazilian economy. Overall, the results are very sensitive to the time period, to the proxies adopted, to the econometric approach, and to the frequency and lags allowed to the variables. These results cast some doubts about the...

The goal of this article is to estimate the New Keynesian Phillips Curve for Brazilian economy. Due to some specifications problems in regressions estimated by IV method, the GMM-HAC methodology was used in order to address them. We noted the robustness of the results performing a detailed...

We estimate a VAR model of the Phillips curve with an exchange rate shock to the Brazilian economy. Several different specifications, with different time frequencies, were estimated. Overall the results were robust to these changes, and can be summed up in the following: i) the pass-through to...

We estimate the Phillips curve with an exchange rate shock to the Brazilian economy. Besides panel data, we estimate the Phillips curve by time series methodology, including Bayesian techniques and Smoothing Transition Regressions (STR) model. The econometric results show three important...

This study aims to estimate the system of bank credit demand and supply in Brazil. Understanding how the balance is established in this market is the key to know the importance of the credit channel. Based on the aggregated data from June 2000 to August 2012 not only for firms but also for...