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...

Conselho Monetário, Banco Central e Tesouro : origens e evolução -- Uma relação delicada : quadro legal e institucional -- A Lei 11,803/08 e a expansão do balanço do Banco Central -- Usos e abusos da conta única, das compromissadas e das reservas cambiais -- Mudança de regime fiscal no...

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...