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...

Fixed Capital has a major role in economic growth literature and on the estimation of potential output using a production function - which is essential to design macroeconomic policy. One of the main contributions of this work, differently from the previous works, is to estimate the capital...

This study seeks to quantify the stock of human capital in the Brazilian economy from 1970 to 2010. We chose to use the IBGE Demographic Census microdata, because, contrary to what is done in other studies - which use fi xed rates of return for all periods and/or regions of the country - this...

The results presented in the text show that, by curbing the growth of primary expenditures, Constitutional Amendment 95 has the potential to stabilize and to reduce general government gross debt, thus guaranteeing the sustainability of the Brazilian public debt. The positive effects of a greater...

Este texto se propõe a estimar duas versões do produto potencial para o Brasil no período 1992-2010, por meio da função de produção e do filtro Hodrick-Prescott (HP), e a usar esses resultados para: i) avaliar a relevância do hiato do produto dentro das decisões de política monetária...

Foram estimadas duas versões do produto potencial para o Brasil no período 1992-2010, por meio da função de produção e do filtro Hodrick-Prescott (HP). A função de produção calculada indica que o baixo crescimento da produtividade pode ter sido um dos principais responsáveis pelo...

The potential output is an unobservable variable and therefore it is hard to measure.The aim of this paper is to contribute to the discussion of the potential outputestimation by making a theoretical and methodological survey and estimating thevariable for the Brazilian economy. After a quick...

In June 2006 the National Monetary Council is going to define the inflation targetto 2008. That is why it is important to try to preview what the inflation behaviorcould be in 2006 and 2007. The results suggest that it will not be easy to accomplishstrictly the inflation target (4.5%) in 2007...