The purpose of this paper is to allow a precise knowledge about the Brazilian public sector fiscal accounts. The article shows the trajectory of the Brazilian fiscal policy since the beginning of the ?above the line? indicators, developed to follow the evolution of revenues and expenditures, in...

This paper simulates the effects of parametric reforms in the pension system, and the main results are: a) the present value of the implicit debt is equivalent to 1,9 GDPs of the year 2005; b) interruption of real increases in the value of minimum pension benefit from 2011 on would reduce the...

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...

This paper makes a partial assessment of the Brazilian privatization program in the 1990s. The article focuses mainly on the fiscal impact of asset sales, which, we argue, has been relatively small. We conclude that the failure of the government's stabilization attempts has reduced the fiscal...

This paper reviews the main elements of social security reform in Brazil since 1998 and discusses areas where further policy action is yet to be taken to ensure the sustainability of the social-security system over time. Outlays on pensions paid to private-sector workers have risen as a result...