This paper estimates a standard Dynamic Stochastic General Equilibrium (DSGE) model that includes a wage and price Phillip's curves with different expectation formation processes for Brazil and the USA. Other than the standard rational expectation process, we also use a limited rationality...

Growing North-South tensions are impeding global climate cooperation and hampering Germany’s search for reliable partners. Brazil is a key actor with the potential to alleviate tensions: it sees itself as a bridge-builder and will host the Climate Change Conference in 2025 (COP30). Under their...

This paper studies the role of council size on government corruption in Brazil. We leverage on the discontinuous relationship between the population size of municipalities and council size dictated by the law to implement a regression discontinuity design. We document a substantial positive...