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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Exchange rate: fix, float, or manage it?

Luiz Carlos Bresser-Pereira

Prefácio a Mathias Vernengo, org. (2006) Monetary Integration and Dollarization: No Panacea. Cheltenham: Edward Elgar: xiii-xix.


Abstract. The exchange rate is the most strategic of the four macroeconomic prices. It determines not only exports and imports, but also real wages, consumption and the savings rate. Conventional theory holds that it is impossible to manage it, and that the only alternatives are to fix or to float it. The experience of the East Asian countries, that use it strategically, demonstrates that this claim is false.


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