MACROECONOMICS

2019. Clues for an open and development macroeconomics. The tittle is self explanatory.

2020. Many rich countries are financing the huge Covid-19 expenditures by monetary emission. Brazil should have done the same. Portuguese version available. (Paper: Brazilian journal of Political Economy) English version available

2020. Many rich countries are financing the huge Covid-19 expenditures by monetary emission.  (Paper, Forum for Social Economics) Portuguese version available

2017. A short (4.000 words) summary of new developmentalism - a new theoretical framework to allow middle-income countries to grow again. Ilustríssima, Folha) (Available in English)

2016. With José Luis Oreiro e Nelson Marconi. Our more complete analysis of Developmental Macroeconomics - the central economic theory within New Developmentalism. (book) Nas livrarias e em kindle

2014. With Nelson Marconi and José Luís Oreiro. Developmental Macroeconomics is a book on development macroeconomics associated with New Developmentalism. In its core are the exchange rate and the current account, instead of the budget deficit and the interest rate. (Book: Routledge) Nas livrarias e em Kindle

2014. Progress and human development are defined as the advance towards the five political objectives that modern societies defined for themselves (security, individual liberty, economic wellbeing, social justice and protection of the environment); and growth a an instrument to such objectives. (Essay: Lua Nova)

2014. In developing countries it is not enough to secure demand for entrepreneurs to invest; additionally, is required access to it, that only a competitive exchange rate can assure. (Paper Brazilian Keynesian Review)

2013. A revised version of my 2008 paper on the Dutch disease in which I distinguish the value from the market price of the exchange rate. (Paper: Brazilian Journal of Political Economy)

2012. In this paper I finally defined the relation between the exchange rate and the investment rate (and so, the growth rate). Investment depends on the exchange rate because as the theory says that it tends do become overvalued in the long-term (for several years) within the exchange rate cycle, companies will take this overvalued currency as reference in their investment decision and will refrain from investing (Paper: Estudos Avançados) English version

2012. In this paper I finally defined the relation between the exchange rate and the investment rate (and so, the growth rate). Investment depends on the exchange rate because as the theory says that it tends do become overvalued in the long-term (for several years) within the exchange rate cycle, companies will take this overvalued currency as reference in their investment decision and will refrain from investing (Paper: Estudos Avançados) Portuguese version

2012. A sum up of a structuralist development macroeconomics and of the ensuing national development strategy: new developmentalism. A theoretical step ahead in relation to Globalization and Competition. (Paper: Brazilian Journal of Political Economy)

2012. Since economics is a social science, good economics is historical and assumes uncertainty. Thus, it should be modest and reasonable, See corresponding paper. (Conference receiving the James Street Award from the Association for Evolutionary Economics: slide presentation)

2011. My more complete paper on new developmentalism. In José Antonio Ocampo and Jaime Ros, eds. Handbook of Latin America Economics, Oxford: Oxford University Press. (Paper). Portuguese version available.

2010. With Paulo Gala. A summary of the structuralist development macroeconomics: the theory that is behind new developmentalism, the national development strategy required for catching up. Spanish version available. (Paper Revista de Economia Política).

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Cambridge University Press).In the bookstores and in kindle

2009. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Éditions La Découverte) In the bookstores.

2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Siglo XXI). Avaliable here in pdf format.

2010. With José Luís Oreiro. Populist Keynesians are for chronic public deficits. Keynes only supported budget deficits in recession moments, and to finance investment, not current expenditures. (Article: La Onda digital).

2010. With José Luís Oreiro. Populist Keynesians are for chronic public deficits. Keynes only supported budget deficits in recession moments, and to finance investment, not current expenditures. (Article: Valor).