1. Brazil and the GATT, 1947-1980 Early years: GATT and ITO The first 20 years: rich men’s club and free riders Brazil and the Tokyo Round 2. Skirmishes before the Uruguay Round, 1980-86 3. The Uruguay Round, 1986-1994 4. Brazil and the GATT, 1980-1994 5. Brazil and the WTO after the Uruguay...

The fit of empirical Taylor Rules to Brazilian data improves if we consider the hypothesis of interest rate inertia. Inertia seems to be part of monetary policy of several countries and reflects the action of Central Banks of not adjusting once-for-all to changing conditions. This article...