Publications

Public Policy Brief No. 143 | February 2017

Brazil Still in Troubled Waters

Since inheriting the Brazilian presidency five months ago, the new Temer administration has successfully ratified a constitutional amendment imposing a radical, two-decades-long public spending freeze, purportedly aimed at sparking an increase in business confidence and investment. In this policy brief, Fernando Cardim de Carvalho explains why this fiscal strategy is based not only on a flawed conception of the drivers of private-sector confidence and investment but also on a mistaken view of the roots of the current Brazilian economic crisis. The hoped-for “expansionary fiscal consolidation” is not likely to be achieved.

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Production Function Estimation
Biased Coefficients and Endogenous Regressors, or a Case of Collective Amnesia?
Author(s): Jesus Felipe, John McCombie, Aashish Mehta, Donna Faye Bajaro
October 2021

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