O artigo discute, à luz da tese da independência do Banco Central do Brasil (BCB) e do processo de formação da autoridade monetária brasileira, a autonomia "de facto" do BCB dentro do Estado e frente à sociedade civil. Embora não seja formalmente independente, em especial por não dispor...

The failure of Collor Plan in stabilizing the Brazilian economy, in March 1990, is a neglected area in Brazilian economics. The liquidity blockade involving the majority of financial assets reduced inflation rates substantially, from 70% per month to 10% per month, but it rose again gradually to...

The Fed’s actions before and after the housing bubble burst: discretion and mandate of central banks in an environment of financial deregulation The Fed’s actions during the development and burst of the US real estate bubble highlight a Central Bank’s dilemma when facing a financial...

A Comissão Econômica para a América Latina e o Caribe (Cepal) e o Instituto de Pesquisa Econômica Aplicada (Ipea) mantêm atividades conjuntas desde 1971, abrangendo vários aspectos do estudo do desenvolvimento econômico e social do Brasil, da América Latina e do Caribe. A partir de 2010,...

The analysis of FGTS performance and actuarial position does not recommend the suppression or reduction of its enterprise payroll tax. In addition of running out of an important source of mandatory savings, able to add a 0,9% of GDP contribution to finance housing and infrastructure next years,...

This paper presents a framework for the development of Participatory Budgeting assessment models that make it possible to verify whether this new budgeting practice accomplishes the goals of its designers, and whether it is a better alternative to the budgeting tools set forth in the 1988...

The blockage of financial asset liquidity in March 1990, known as the Collor Plan - one of the most drastic state interventions in the Brazilian economy ever -, originated in the debate over the failure of previous stabilization policies, especially the heterodox shocks of the Sarney government....