Does High Inflation Affect Growth in the Long and Short Run?

This paper investigates the relationship between inflation and output in the context of an economy facing persistent high inflation. By analyzing the case of Brazil, we find that inflation does not impact real output in the long run, but that in the short run there exists a negative effect from inflation on output. These results support Sidrauski’s (1967) superneutrality of money in the long run, but cast doubt on the short run implications of the model for separable utility functions in consumption and real money balances, as exposed by Fischer (1979). The results are more likely to support a class of utility functions in which real money balances and consumption are perfect complements.inflation; growth; output

Atacando a pobreza e a desigualdade: resuitados de microssimulações contrafactuais para o Distrito Federal

The paper applies the technique of counterfactual micro simulations to generate policy instruments that might allow a reduction of 50% in the overall level of poverty in the Federal District. The ranking and comparison of income distributions for the purposes of evaluating different scenarios and their impact on poverty follows the criterion of second order stochastic dominance. The results indicate that small improvements in education levels and in the level of monetary income would be sufficient to provoke the desired reduction in poverty levels

Informalidade e terceirização: duas tendências opostas?

RESUMO O artigo discute algumas questões relacionadas à ideia de flexibilidade no mercado de trabalho. Em primeiro lugar, apresenta diferentes abordagens sobre a existência de um setor informal na economia e distingue o processo moderno de terciarização, observado nos países industrializados, do crescimento das atividades terciárias encontrado na maioria dos países em desenvolvimento. Em segundo lugar, é apresentada uma breve discussão sobre a recente conjuntura do mercado de trabalho brasileiro. Conclui-se que um maior grau de flexibilização do mercado de trabalho brasileiro tem sido buscado por meio da informalização das atividades jurídicas e também por um incipiente processo de terciarização moderna

Os determinantes da rotativade do trabalho no Brasil: instituições x ciclos econômicos [Determinants of labour turnover in Brazil: institutions X business cycles]

The article discusses the determinants of labour turnover in Brazil. We contrast the view suggesting that severance payments (FGTS) induce labour turnover with arguments suggesting that turnover rates are a function of the characteristics of supply and demand for labour in Brazil. Additionally, we present econometric evidence that changes in the level of turnover rates observed at the end of the 1980s are not associated with changes in the legislation about severance payments in Brazil and also that turnover rates are pro-cyclical.turnover, layoffs, supply and demand for labour

El comportamiento de las empresas exportadoras brasileñas: implicaciones para el ALCA

Incluye Bibliografí

Exchange rate management: the case of Brazil

The paper develops an exchange rate regime choice problem in a general asset-pricingset-up. The government has been considered the main optimising agent in the modelwhereby regime switches may occur because the government can exercise discretion inexchange rate management. Empirical estimates for the case of Brazil suggest that regimeswitches are determined by the behaviour of wages and inflation. Overall, the resultssuggest that price fundamentals have a more significant impact on the exchange rate inthe short run. It is not until the long run that domestic expenditure variables play a part inexchange rate determination.O artigo apresenta um problema de escolha do regime de taxa de câmbio numa estrutura geral de precificação de título

Behaviour of Brazilian export firms: implications for the Free Trade Area of the Americas

Includes bibliograph

Reforma do setor público na América Latina: uma perspectiva comparada

Bibliografia: p. 68-7

Mensurando os impactos da abertura econômica sobre o nível de emprego: a contabilidade do crescimento no Brasil entre 1985 e 2000

In this paper we attempt to analyze the effects of the economic opening observed in Brazil in the early 1990's, on the employment level, compared to the current environment in the 1980's, aiming to test empirically the principles ofthe Theory of Heckscher-Ohlin, as well as to verify if the results would be compatible with other theories. The study embraced all the 42 economy sectors of activity segregated by factor endowment and labor qualification levels. In sectoral terms, the results demonstrate that trading and labor productivity affected the employment in different ways

Discriminação no mercado de trabalho: uma análise dos setores rural e urbano no Brasil

The article investigatesthe existence ofdiscrimination in the urban and rural labor markets in Brazil. Using the procedure proposed by Heckman (1970) to estimate participation and earnings equations and the method of decomposition proposed by Blinder (1973) and Oaxaca (1973), we test the hypothesisthat returns to education are different for urban and rural workers in Brazil. The methodology we use allows for the decomposition of the difference in the average wages ofmale and female workers in the urban and rural sectors in a share that can be explained by characteristics such as education, hours ofwork and experience, and in another share that reflects the existence of discrimination. The analysis is carried out with microdata from the National Household Surveys (PNADs) of 1998. The results we obtained suggest the existence ofstrong discrimination by gender and race, besides the presence of substantial wage differentials between urban and rural workers