ECONOMICS - ALL TEXTS

1975. The Harrod-Domar model of growth is consistent with factor substitubility provided that a coefficient of substitution of capital for labor is added. This formalization is done here.(Paper em Estudos Econômicos)

1974. The Solow-Meade model is the neoclassical alternative to the growth model the Keynesian, Harrod-Domar model. It is consistent with an economy permanently in market-equilibrium that the previous model rejected. (Short note for the students)

1974 [1991]. A survey of the theory of the decision to invest and a critique of the neoclassical emphasis on the interests or on the normal profits. Investments, as the classical economists knew, depend essentially on profit expectations substantially higher than the interst rate. Variations in the expected profit rate are more important in explaining capital accumulation than variations in the interest rate. It elaborates "A decisião de investir, os lucros e os juros". (Paper: Texto para Discussão FGV Economia)

1970. Adopting a classical perspective, this paper argues that variations in the expected profit rate and the corresponding shifts of the marginal efficiency of capital curve are more important in explaining investments than variations in the interest rate. I further developed this analysis in "Acumulação de capital, lucros e juros". (Paper: Texto para Discussão)

1970. Economic theory is formed of two branches: formal economics, a sum of tools, and political economy, the analysis of real economic systems and problems. (Note: FGV/SP)

1968 [1976]. A critique of microeconomics, and an analysis of the transition from classical to Keynesian macroeconomics.(Apostila FGV/SP, 42 pages)

1968. With Yoshiaki Nakano. Basic concepts of social accounting, emphasizing the ex-post equality of product, income and expenditure. (Apostila FGV/SP)

1968. Development defined as involving a Industrial and a National Revolution. (Chapter 1 of Development and Crisis in Brazil,1968)

1967. General economic theory does not apply to underdeveloped countries. (Paper: Revista de Administração de Empresas)

1967. An adaptation of Singer's model to middle income countries. (Paper: Revista de Administração de Empresas)