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...

It is proposed to estimate two versions of the potential output for Brazil in the period 1992-2010, through the production function and the HP filter, and use these results to: i) assess the relevance of the output gap in the monetary policy decisions (comparing the two estimates); and ii) to...

We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main functions and goals during the period from 1994 to 2012. We identify four different subperiods with respect to the use of this policy tool. In the first subperiod, from july 1994 to...