ECONOMICS - ALL TEXTS

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.

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.

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)

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)

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

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)

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).

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).

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)*

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)

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

Luiz Carlos Bresser-Pereira e Yoshiaki Nakano (2002). Resposta à carta de Edmar Bacha, também publicada neste site, comentando o artigo "Uma estratégia de crescimento com estabilidade".

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). *

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)*

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). *

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).

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) *

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)

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)