The Political Construction of Brazil

2017. An encompassing analysis of Brazil’s society, economy and politics since the Independence. A national-dependent interpretation. Three historical cycles of the relation state-society: State and Territorial Integration Cycle (1822-1929), Nation and Development Cycle (1930-1977) and Democracy and Social Justice Cycle (1977-2010). Crisis since then. (Book: Lynne Rienner Publishers)

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Macroeconomia Desenvolvimentista

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics – the central economic theory within New Developmentalism. (book)

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Teoria econômica (todos)


Documentos 1 a 60 de 82



Lucro, Acumulação e Crise

2018 - Book on the phases of capitalist development and the distribution of income using Marx's model of the falling tendency of the rate of profit. First edition, 1986; second edition, e-book only, Kindle format. Atualized in the apendix with the paper, "Growth and distribution: a revised classical model".



Keynes, Cardim e seus amigos pós-keynesianos

2018. Prefácio ao livro em homenagem a Fernando Cardim de Carvalho.



Growth and distribution: a revised classical model

2018. The phases of capitalist development having as criteria the variables of Marx's model of the falling tendency of the rate of profit. It actualizes the book Lucro, Acumulação e Crise (1986). (Paper in the Brazilian Journal of Political Economy)



Afinal, a estagnação secular do capitalismo?

2018. Survey of the recent debate on the secular stagnation of capitalism, in special, Robert J. Gordon, The Rise and Fall of American Growth. Princeton: Princeton University Press, 2016.



Desenvolvimento econômico, sofisticação produtiva e valor-trabalho

2017. Em países em desenvolvimento a sofisticação produtiva e o aumento da produtividade podem ser melhor explicados pela transferência de trabalhadores e técnicos para os setores mais sofisticados, do que pelos rendimentos crescentes, que são mais relevantes para os países ricos.



Composição orgânica do Capital e salários

Capítulo II de Bresser-Pereira, Luiz Carlos Lucro Acumulação e Crise. São Paulo: Editora Brasiliense, 1986. pp 36-42



Ondas longas e ciclos econômicos

Capítulo XII de Bresser-Pereira, Luiz Carlos Lucro Acumulação e Crise. São Paulo: Editora Brasiliense, 1986. pp 183-223.



Os tipos de progresso técnico

Capítulo III de Bresser-Pereira, Luiz Carlos Lucro Acumulação e Crise. São Paulo: Editora Brasiliense, 1986. pp 43-63



Macroeconomia Desenvolvimentista

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics - the central economic theory within New Developmentalism. (book)



Reflecting on New Developmentalism and classical developmentalism

2015. New Developmentalism is a theory that was preceded by Classical Developmentalism. It focus on the equilibrium of five macroeconomic prices, and of the two macro accounts, particularly the current or external account.



Developmental Macroeconomics

2014. With Nelson Marconi and José Luís Oreiro. Developmental Macroeconomics is a book on development macroeconomics associated with New Developmentalism. In its core are the exchange rate and the current account, instead of the budget deficit and the interest rate. (Book: Routledge)



Desenvolvimento, progresso e crescimento econômico

2014. Progress and human development are defined as the advance towards the five political objectives that modern societies defined for themselves (security, individual liberty, economic wellbeing, social justice and protection of the environment); and growth a an instrument to such objectives. (Essay: Lua Nova)



The access to demand

2014. In developing countries it is not enough to secure demand for entrepreneurs to invest; additionally, is required access to it, which only a competitive exchange rate can assure. (Paper Keynesian Brazilian Review)



The value of the exchange rate and the Dutch disease

2013. A revised version of my 2008 paper on the Dutch disease in which I distinguish the value from the market price of the exchange rate. (Paper: Brazilian Journal of Political Economy)



The exchange rate at the center of development economics

2012. In so far as structuralist development macroeconomics assumes that developing countries face a tendency to the cyclical overvaluation of the eschange rate, it makes the exchange rate chronically overvalued. Thus, it ceases to be just a short term macroeconomic problem, to be part of the corre of development economics. (Paper: Estudos Avançados) Portuguese version



A taxa de câmbio no centro da teoria do desenvolvimento

2012. In so far as structuralist development macroeconomics assumes that developing countries face a tendency to the cyclical overvaluation of the eschange rate, it makes the exchange rate chronically overvalued. Thus, it ceases to be just a short term macroeconomic problem, to be part of the corre of development economics. (Paper: Estudos Avançados) English version



Structuralist macroeconomics and the new developmentalism

2012. A sum up of a structuralist development macroeconomics and of the ensuing national development strategy: new developmentalism. A theoretical step ahead in relation to Globalization and Competition. (Paper: Brazilian Journal of Political Economy)



Por um pensamento econômico heterodoxo dominante: Um manifesto acadêmico

2013. The core of neoclassical economics (general equilibrium and rational expectations macroeconomics) is demoralized. A Keynesian-structuralist alternative is available. What is necessary to do to become mainstream again. English version available.



For a heterodox mainstream economics: an academic manifesto

2011. The core of neoclassical economics (general equilibrium and rational expectations macroeconomics) is demoralized. A Keynesian-structuralist alternative is available. What is necessary to do to become mainstream again. Portuguese version available. Also available a Slide presentation.



Why economics should be a modest and reasonable science

2012. Since economics is a social science, good economics is historical and assumes uncertainty. Thus, it should be modest and reasonable, See corresponding paper. (Conference receiving the James Street Award from the Association for Evolutionary Economics: slide presentation)



From old to new developmentalism in Latin America

2011. My more complete paper on new developmentalism. In José Antonio Ocampo and Jaime Ros, eds. Handbook of Latin America Economics, Oxford: Oxford University Press. (Paper). Portuguese version available.



Macroeconomia estruturalista do desenvolvimento

2010. With Paulo Gala. A summary of the structuralist development macroeconomics: the theory that is behind new developmentalism, the national development strategy required for catching up. Spanish version available. (Paper Revista de Economia Política).



Globalization and Competition

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Cambridge University Press).



Globalização e Competição

2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Elsevier).



Globalización y Competencia

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI).



Mondialisation et compétition

2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Éditions La Découverte)



Globalización y Competencia

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI).



A descoberta da inflação inercial

2009. The history of the discovery of inertial inflation. The role played by the São Paulo (FGV) and the Rio (PUC) groups. (Paper: Revista de Economia Contemporânea)



The two methods and the hard core of economics

2008. Neoclassical economists use the hipothetical deductive method, but an empirical-deductive method, particularly the new historical facts approach, is a a more advisable aternative. (Paper: Journal of Post Keynesian Economics). Portuguese version available.



Os dois métodos e o núcleo duro da teoria econômica

2009. Neoclassical economists use the hipothetical deductive method, but an empirical-deductive method, particularly the new historical facts approach, is a a more advisable aternative. (Paper: Revista de Economia Política). English version available.



Os dois métodos e o núcleo duro da teoria econômica

2009. Neoclassical economists use the hipothetical deductive method, but an empirical-deductive method, particularly the new historical facts approach, is a a more advisable aternative. (Paper: Revista de Economia Política). English version available.



The tendency to the over-appreciation of the exchange rate.

2008. In developing countries there is the tendency to the overvaluation of the exchange rate. If countries do not neutralize it, they will experiment slow growth, and catching up will not happen. (Chapter 4 of book to be published, Globalization and Competition). Spanish version and Portuguese version available.



Doença holandesa e sua neutralização: uma abordagem ricardiana

2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper in edited book) English version published in Brazilian Journal of Political Economy)



La enfermedad holandesa y su neutralización

2008. The Dutch disease or natural resources curse is a major market failure to the extent that appreciates the exchange rate and makes not profitable industries using technology in the state of the art. English version available.



The Dutch disease and its neutralization: a Ricardian approach

2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper: Brazilian Journal of Political Economy)



Poupança externa, insuficiência de demanda e baixo crescimento

2007. With Paulo Gala In João Sicsú e Carlos Vidotto, orgs. (2008) Economia do Desenvolvimento. Teoria e Políticas Keynesianas. Rio de Janeiro: Campus: 79-96.



Por que a poupança externa não promove crescimento

2007. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. English version available.(Paper: Revista de Economia Política)



Why foreign savings fail to cause growth

2007. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. Portuguese and Spanish versions available.(Paper to be published in book)



O conceito histórico de desenvolvimento econômico

2006. Economic development defined using a historical method instead of a normative, or a hypothetic-deductive one. (Texto para Discussão 157 EESP/FGV)



Exchange rate: fix, float, or manage it?

2006. The exchange rate determines not only exports and imports, but also real wages, consumption and the savings rate. (Preface to book edited by Mathias Vernengo)



Ortodoxos e histórico-institucionalistas

2005. Tony Lawson is making an important contribution to economic methodology with his ontological approach, and also because he sees that mainstream economics is essentially characterized by the method it uses - a mathematical-deductive method. (Comments to Tony Lawson's paper, "The nature of heterodox economics" just published here).



Um grande modelo?

2003. The ambition of developing a unique and comprehensive economic theory is vain and dangerous. (Note just published in this website 14 pages)



Economic growth with foreign savings?

2002. With Yoshiaki Nakano. Developing countries' poor performance in the 1990s is related to the Washington strategy of growth with foreign savings. Portuguese version available.(Paper presented to International Post Keynesian Workshop).



Crescimento econômico com poupança externa?

2003. With Yoshiaki Nakano. Developing countries poor performance in the 1990s is related to the Washington strategy of growth with foreign savings and open capital accounts. English version available.(Paper Revista de Economia Política)*



Prefácio a Macroeconomia do Emprego e da Renda: Keynes e o Keynesianismo

2003. In last years the fact that neoclassical macroeconomics is not used by central banks became evident. (Preface to the book edited by Gilberto Tadeu Lima and João Sicsú)



Auto-Interesse e incompetência

2003. A second variable, besides self-interest, is turning increasingly relevant: policymakers' incompetence. English version available. (Revista Brasileira de Economia). *



Self-interest and incompetence

2001. Besides self-interests a second variable is turning increasingly relevant: policymakers' technical and emotional incompetence. Portuguese version available. (Journal of Post Keynesian Economics, Spring 2001). *



Net and total transition costs the timing of economic reform

1997. With Jairo Abud. The difference between the short term costs of adjusting an economy and the costs of procrastinating adjustment and reform are the net transition costs. In the limit, they determine the moment reform begins. (Paper World Development)*



As três formas de desvalorização cambial

1997. An disguised (because I was part of the Cardoso administration) critique of exchange rate policy adopted by Brazil after the Real Plan. (Paper in Revista de Economia Política). *



A Inflação Decifrada

1996. An account of the theory of inertial inflation original definition(Paper in Revista de Economia Política). For a more complete history, see "A descoberta da inflação inercial" (Revista Contemporânea de Economia, 2010).



The Irreductibility of Macro to Microeconomics: a Methodological Approach

1996. With Gilberto Tadeu Lima. While microeconomics is logic-deductive, macroeconomics is a historical discipline, requiring an inductive-deductive approach. (Paper: Revista de Economia Política) *



Economic populism versus Keynes: reinterpreting budget Deficit in Latin America

1991. With Fernando Dall'Acqua. Contrarily to what economic populists say, Keynes only admited budget deficits in special situations, as a temporary depart from fiscal balance. Portuguese version available.(Paper: Journal of Post Keynesian Economics)



Populismo econômico versus Keynes: a reinterpretação do déficit público na América Latina

1991. With Fernando Dall'Acqua. Contrarily to what economic populists say, Keynes only admited budget deficits in special situations, as a temporary depart from fiscal balance. English version available.(Paper: edit book)



Taxa de juros e os investimentos

1991. A 1990 repetition of a research on the motives to invest of major Brazilian firms originally conducted in 1970. And a comparison between the two results, showing that with the rise of the interest rate, it became more relevant in the decision process. (Research report/NPP/EAESP/FGV).



A teoria da inflação inercial reexaminada

1989. While monetarists emphasize expectation, the strucuturalist theory of inertial inflation privileges distributive conflict. When prices are being increased in a staggered or indexed way, economic agents cannot change their expectatives: they have to increase prices just to keep their share in income. PUC's Rio de Janeiro group, that participate in the formulation of the theory, are falling in a monetarist trap when they privilege expectations instead of distributive conflict. (Introductory paper in book edited by José Marcio Rego)



A aceleração da inflação inercial

1989. Inertial inflation is accelerating in Brazil and threatening to turn into hyperinflation. An explanation of why inertial inflation is rigid is is to be reduced, but tends to increase as distributive conflict increases. (Paper in book edited by José Marcio Rego)



A composição financeira do déficit público

1987. Interest expenditures and real state expenditures have different consequences on aggregate demand. Thus a contry may have a public deficit whose origin are the interests paid consistent with insufficient demand and unemployment. This was what occurred in the Brazilian economy in 1985. (Paper: Revista de Economia Política)*



The Theory of Inertial Inflation

1987. With Yoshiaki Nakano. Collected papers on the theory of inertial or indexed inflation. Translation of Inflação e Recessão (1984) with the addition of paper on the 1985 Cruzado Plan. (Book: Lynne Rienner Publishers)



Tendência Declinante da Taxa de Lucro e Progresso Técnico

1986. The classical model of development with inverted distribution and three types of technical progress. A critique of Marx's falling tendency of the rate of profit. Chapters 3 and 4 of Lucro, Acumulação e Crise) (Paper: Revista de Economia Política)*



Oligopolização e taxa de lucro

Capítulo VI de Bresser-Pereira, Luiz Carlos Lucro Acumulação e Crise. São Paulo: Editora Brasiliense, 1986. pp 89-96.




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