A macroeconomia do bem-estar social: relações e controvérsias

Abstract

According to recent studies, shocks on aggregated variables are associated with unequal impacts on the economic system, affecting more some agents and sectors than others according, depending on their characteristics. Theoretically, the mechanisms that differentiate shocks’ effects on economic agents are the variations in relative prices of inputs and output, the variation of labor demand, the workers characteristics and the design of economic policies. The purpose of this article is, through a both theoretical and empirical literature review of the relationship between macroeconomic performance and social welfare, to find answers to three questions. First, which are the agents that most suffer the effects of economic recessions? Second, which are the agents that benefit the most from economic growth? Third, which are the policy alternatives related to macroeconomic management of social welfare?welfare, macroeconomic policy, business cycles, social development.