1993. The Bresser Plan - an atempt to stabilize prices in Brazil in an adverse environment. Portuguese version available. (Paper in book edited by John Williamson)
OTHER LANGUAGES
WORKS IN ENGLISH
1992. With Vera Thorstensen. Brazil is going through an important moment in its international relations and foreign trade policies. Portuguese version available. (Paper: published in ECLAC/IDB edited book)
1992. When the costs involved in a given economic policy become excessive, the decision not to adopt the policy is rational rather than political. Reforms that are inefficient are irrational. (Note: Harvard International Review)
1992. Liberalization of the economy and the consolidation of democracy are only possible where the state and the civil society are strong. (Note: Discussion Paper)
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. An early critique of the Washington consensus. A systematic analysis of the Latin American crisis as a foreign debt crisis and a fiscal crisis of the state. Portuguese, French, and Spanish versions available. (English version not published: just available in this site).
1991. Economic populism, left's protectionism, and the right's monetarist orthodoxy are together major obstacles to consistent and rational economic policies and reforms. Portuguese version with the title "Ideologias econômicas e democracia no Brasil" available. (Paper: Journal of Interamerican Studies and World Affairs)
1991. Based on research conducted in 1970 and repeated in 1990, this paper shows that, in 'abnormal times', when the interest rate is abnormally high, business enterprises' decisions on investment take into consideration the interest rate more attentively than they do in normal times. (Paper presented to LASA meeting)
1990. The debt crisis is without solution, and may require unilateral measures on the part of Latin American countries. The idea of free trading area in the Americas is welcomed.(Note in book edited by Baer & Petri)
1990. The rise of technobureaucracy or the professional middle class: in capitalism, sharing power with the bourgeoisie in the Soviet Union and other comand economies, as the ruling class. It is revised translation of A Sociedade Estatal e a Tecnoburocracia (1981) with the adition of the paper "Social Classes and Strata in Contemporary Capitalism) Em formato pdf e e-book.
1990. There is a perverse logic in the Brazilian macroeconomic system involving foreign debt, fiscal deficit and inertial inflation. Portuguese version available.(Paper: Journal of Post Keynesian Economics).
1990.The neoliberal wave can be understood in the framework of my theory of the cyclical character of state intervention. (Paper: Revista de La CEPAL)
1990. With Yoshiaki Nakano. This paper predicts the failure of the Collor Plan for failing to neutralize inertia, in a moment conventional orthodoxy was sure that it would be successful. Portuguese and French versions available. (Paper in book edited by Davidson and Kregel).
1990. A undeclared moratoria as we have today is not a solution for the debt crisis. Unilateral decisions should complement the Brady Plan so as to achieve a reasonable discount on the debt.(Paper in edited book)
1989 [1993]. State intervention has a cyclical character now the neo-liberal ideological wave is causing a reduction of the state, and distortions are being corrected, but sooner or later the movement will be reversed confirming the cycle. Portuguese version available. (Paper in World Development).
1989. The transition to democracy was an outcome of successful political popular-business pact, but mistaken ideoloiges originated in old nationalism and left populism, and on conservative clientelism, opportunism, social conservatism, monetarism, crude liberalism, and subordinated internationalism represent an obstacle to democratic consolidation and growth in Brazil. Portuguese version available.
(Paper in book edited by Diane Ethier)
1989. Third world debt is so high that only its securitization with a discount in the line proposed in 1987 by me as finance minister of Brazil will solve the problem.
1989. (Article: World Link).
1989. The Brazilian crisis in the 1980s as a debt and a fiscal crisis. A summary of the negotiations. The solution of the debt crisis requires that creditors accept the seccuritization of the debt with a discount. Portuguese version available. (Paper in book edited by Christine Bogdanowicz-Bindert).
1989. There is a perverse logic in the Brazilian macroeconomic system involving foreign debt, fiscal deficit and inertial inflation. Portuguese version available.(Paper in book edited by Fukuchi and Kagami).