cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.14319540.v1
title: Municipal budget and planning: a case study

description: ABSTRACT The present article searches to evaluate the efficiency of planning in the municipal area, within the period of 1989 to 1997, aiming to establish if the variable inflation determines higher or lower levels considering the municipal adjusting. For this, it was used as data base the budget of 67 municipal districts of the Medium Plateau region of the state of Rio Grande do Sul. The methodological process implied the construction of efficient indexes, evaluated through the adjust grade of the budget variable. It was verified that: a) the variable inflation is not the only determining of the municipal planning adjusting; b) It exists, in the municipal technical staff, lack and deficiency about the planning and the discipline (technical) budget; c) The absence of a formal and established process that could evaluate the budget proposals, in the discussion and approval of the laws, considering this a legislative responsibility. Therefore, it concludes that the legislators, mainly in the period of price establishment, were not efficient considering the exercise of their jobs, judgment, discussion and approval of the budget laws in the cities of the Medium Plateau Region of the state of Rio Grande do Sul, since they permitted the systematic superevaluation budget, which proposed the generation of a series of deficits.
DOI: 10.17870/bathspa.12311864.v1
title: Journeys with 'The Waste Land' - Research Time line and Research Questions

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains the research time lines and questions.
DOI: 10.6084/m9.figshare.14319543
title: Will be consistent the proposal for the creation of a monetary union in Mercosur?

description: ABSTRACT This paper aims to discuss the proposal for monetary union in Mercosur in the light of the theory of Optimal Currency Area (OCA). It shows that there is no evidence that macroeconomic convergence can be reached in Mercosur, since the area only minimally achieved some basic criteria defined by the OCA literature.
DOI: 10.6084/m9.figshare.14319543.v1
title: Will be consistent the proposal for the creation of a monetary union in Mercosur?

description: ABSTRACT This paper aims to discuss the proposal for monetary union in Mercosur in the light of the theory of Optimal Currency Area (OCA). It shows that there is no evidence that macroeconomic convergence can be reached in Mercosur, since the area only minimally achieved some basic criteria defined by the OCA literature.
DOI: 10.6084/m9.figshare.14319546
title: Inflation Targeting: Proposals for a Permanent Regime

description: ABSTRACT In 1999 the inflation targeting regime was introduced in Brazil in an environment plenty of uncertainties and relatively high inflation rates. As a consequence, the set of rules that to this day govern the Brazilian regime still lack a strong institutional support. This paper makes some proposals for a permanent inflation targeting regime. In doing so, we discuss how can a greater institutional commitment be achieved with the inflation targeting setup. We also discuss issues on what the permanent inflation target level should be and also how much deviation from the target should be tolerated. Based on these issues, we suggest a set of rules to be adopted in Brazil.
DOI: 10.6084/m9.figshare.14319546.v1
title: Inflation Targeting: Proposals for a Permanent Regime

description: ABSTRACT In 1999 the inflation targeting regime was introduced in Brazil in an environment plenty of uncertainties and relatively high inflation rates. As a consequence, the set of rules that to this day govern the Brazilian regime still lack a strong institutional support. This paper makes some proposals for a permanent inflation targeting regime. In doing so, we discuss how can a greater institutional commitment be achieved with the inflation targeting setup. We also discuss issues on what the permanent inflation target level should be and also how much deviation from the target should be tolerated. Based on these issues, we suggest a set of rules to be adopted in Brazil.
DOI: 10.6084/m9.figshare.14319548
title: Real Plan and foreign exchange anchor

description: ABSTRACT Recently, a number of Latin American countries with high inflation and various kinds of imbalances have experienced disinflation stabilisation programmes. Brasil implemented in July 1994 the Real Plan - an exchange-rate-based stabilisation experiment. This paper revisits this experience examining the main reasons for the collapse of the exchange-rate regime, in January 1999, from alternative theoretical points of view. What emerges from the paper is the conclusion that most of the “new” arguments presented to explain the Brazilian currency crisis are arguments used in the past by heterodox theorists.
DOI: 10.6084/m9.figshare.14319548.v1
title: Real Plan and foreign exchange anchor

description: ABSTRACT Recently, a number of Latin American countries with high inflation and various kinds of imbalances have experienced disinflation stabilisation programmes. Brasil implemented in July 1994 the Real Plan - an exchange-rate-based stabilisation experiment. This paper revisits this experience examining the main reasons for the collapse of the exchange-rate regime, in January 1999, from alternative theoretical points of view. What emerges from the paper is the conclusion that most of the “new” arguments presented to explain the Brazilian currency crisis are arguments used in the past by heterodox theorists.
DOI: 10.6084/m9.figshare.14319551.v1
title: The Theory of Monetary Policy Credibility

description: ABSTRACT This paper analyzes the main arguments concerning credibility theory for monetary authority from the mainstream literature. In this sense, the origin of the debate entitled rules versus discretion is examined and the advances in literature from the central bank independence proposal. The findings denote that the problem of the inflationary bias for conduction of monetary policy is a result of a set of ad hoc hypotheses used by the literature. Thus, the developments in the literature concerning the credibility from inflationary bias represent a particular case for monetary theory.
DOI: 10.6084/m9.figshare.14319551
title: The Theory of Monetary Policy Credibility

description: ABSTRACT This paper analyzes the main arguments concerning credibility theory for monetary authority from the mainstream literature. In this sense, the origin of the debate entitled rules versus discretion is examined and the advances in literature from the central bank independence proposal. The findings denote that the problem of the inflationary bias for conduction of monetary policy is a result of a set of ad hoc hypotheses used by the literature. Thus, the developments in the literature concerning the credibility from inflationary bias represent a particular case for monetary theory.
DOI: 10.6084/m9.figshare.14319552
title: Credibility and the design of regulatory agencies in Brazil

description: ABSTRACT In this paper we model the process of regulatory agency design, focusing on the role of credibility. The government is constrained in the sense that it must create regulatory institutions that allow it to commit to not administratively expropriate investors. The model explains both the preference of the agency head chosen by the government as well as the optimal level of statutory control. We argue that in Brazil this trade-off between credibility and control of the agencies is key to understanding the specific regulatory institutions that have been chosen. Comparative static results are derived to examine how changes in some key variables affect the design of the agencies, providing us with a set of hypotheses for comparing the design of five different agencies created to regulate industries with very different characteristics. Although these agencies were initially created under very similar designs, they are expected to evolve in ways that accord with our theory.
DOI: 10.6084/m9.figshare.14319552.v1
title: Credibility and the design of regulatory agencies in Brazil

description: ABSTRACT In this paper we model the process of regulatory agency design, focusing on the role of credibility. The government is constrained in the sense that it must create regulatory institutions that allow it to commit to not administratively expropriate investors. The model explains both the preference of the agency head chosen by the government as well as the optimal level of statutory control. We argue that in Brazil this trade-off between credibility and control of the agencies is key to understanding the specific regulatory institutions that have been chosen. Comparative static results are derived to examine how changes in some key variables affect the design of the agencies, providing us with a set of hypotheses for comparing the design of five different agencies created to regulate industries with very different characteristics. Although these agencies were initially created under very similar designs, they are expected to evolve in ways that accord with our theory.
DOI: 10.6084/m9.figshare.14319554.v1
title: Multiple Balances

description: ABSTRACT The note is the second of a series of four notes written for students on current policy debates. It focuses on a simple open economy model in which there is a subjective default probability on domestic debt. Under certain conditions there is more than one pair interest/exchange consistent with a given inflation target. Dynamics is explored under a simple behavior rule according to which Central Bank increases interest if inflation is above target. The effect of credible fiscal tightening, external shocks in interest rates or sovereign debt and expected changes in the convertibility regime are discussed.
DOI: 10.6084/m9.figshare.14319554
title: Multiple Balances

description: ABSTRACT The note is the second of a series of four notes written for students on current policy debates. It focuses on a simple open economy model in which there is a subjective default probability on domestic debt. Under certain conditions there is more than one pair interest/exchange consistent with a given inflation target. Dynamics is explored under a simple behavior rule according to which Central Bank increases interest if inflation is above target. The effect of credible fiscal tightening, external shocks in interest rates or sovereign debt and expected changes in the convertibility regime are discussed.
DOI: 10.17870/bathspa.12409880.v1
title: Journeys with 'The Waste Land' - Coventry Photos

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Coventry Exhibition.<br><b>Photo credit: Francis Ware </b><b>Used with permission. </b>
DOI: 10.17870/bathspa.12409880
title: Journeys with 'The Waste Land' - Coventry Photos

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Coventry Exhibition.<br><b>Photo credit: Francis Ware </b><b>Used with permission. </b>
DOI: 10.6084/m9.figshare.14319555.v1
title: Endogenous Risk Premium, Inflation Targets and Flexible Exchange Rate: Dynamic Implications of the Bresser-Nakano Hypothesis for a Small Open Economy

description: ABSTRACT The objective of this article is to analyze the implications of Bresser-Nakano hypothesis, that risk-premium is positive related to domestic rate of interest, over time paths of nominal interest rate and nominal exchange rate in a small open economy whose regime of economic policy is characterized by flexible exchange rate, inflation targeting and short run capital mobility. In the theoretical framework developed in the article, we are able to shown that, in the case of a strong positive feedback of nominal interest rate over risk-premium, (i) there are multiple time paths of nominal interest rate and nominal exchange rate; (ii) all such paths are compatible with some degree of price stability and (iii) some of these paths, however, are related to an increase in current account deficit and/or a continuous increase in fiscal deficit. The logical conclusion of these results is that the achievement of current account and fiscal equilibrium can only be obtained by a change in the regime of economic policy.
DOI: 10.6084/m9.figshare.14319555
title: Endogenous Risk Premium, Inflation Targets and Flexible Exchange Rate: Dynamic Implications of the Bresser-Nakano Hypothesis for a Small Open Economy

description: ABSTRACT The objective of this article is to analyze the implications of Bresser-Nakano hypothesis, that risk-premium is positive related to domestic rate of interest, over time paths of nominal interest rate and nominal exchange rate in a small open economy whose regime of economic policy is characterized by flexible exchange rate, inflation targeting and short run capital mobility. In the theoretical framework developed in the article, we are able to shown that, in the case of a strong positive feedback of nominal interest rate over risk-premium, (i) there are multiple time paths of nominal interest rate and nominal exchange rate; (ii) all such paths are compatible with some degree of price stability and (iii) some of these paths, however, are related to an increase in current account deficit and/or a continuous increase in fiscal deficit. The logical conclusion of these results is that the achievement of current account and fiscal equilibrium can only be obtained by a change in the regime of economic policy.
DOI: 10.17870/bathspa.12434501
title: Journeys with 'The Waste Land' - Learning Studio

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Learning Studio which was based at the Margate Exhibition site.<b><br>Photo credits: Steve White and Thierry Bal </b><b>Used with permission.</b><br>
DOI: 10.17870/bathspa.12434501.v1
title: Journeys with 'The Waste Land' - Learning Studio

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Learning Studio which was based at the Margate Exhibition site.<b><br>Photo credits: Steve White and Thierry Bal </b><b>Used with permission.</b><br>
DOI: 10.6084/m9.figshare.14319557.v1
title: Risco-Brasil: The Lula Effect and the Central Bank Effects

description: ABSTRACT This short paper discusses the behavior of Brazil’s sovereign risk spread, since the adoption of a floating exchange rate regime in the beginning of 1999. The data presented seem to support the hypothesis of perverse effects of domestic monetary policy on country-risk. On the other hand, fears of a future debt default - sparked by volatile presidential election polls - do not seem to explain a significant part of the risk spread, until very recently. The author is fully aware of the existence of a rich and fast-growing literature on country-risk. This paper is not an attempt to add new pieces of theory or rigorous analytical evidence to that literature; its sole aim is to make a small contribution to the debate, by pointing at some usually neglected factors that may explain Brazil’s sovereign risk spread.
DOI: 10.6084/m9.figshare.14319557
title: Risco-Brasil: The Lula Effect and the Central Bank Effects

description: ABSTRACT This short paper discusses the behavior of Brazil’s sovereign risk spread, since the adoption of a floating exchange rate regime in the beginning of 1999. The data presented seem to support the hypothesis of perverse effects of domestic monetary policy on country-risk. On the other hand, fears of a future debt default - sparked by volatile presidential election polls - do not seem to explain a significant part of the risk spread, until very recently. The author is fully aware of the existence of a rich and fast-growing literature on country-risk. This paper is not an attempt to add new pieces of theory or rigorous analytical evidence to that literature; its sole aim is to make a small contribution to the debate, by pointing at some usually neglected factors that may explain Brazil’s sovereign risk spread.
DOI: 10.6084/m9.figshare.14319558
title: Currency Fluctuation and Interest Rate in Brazil

description: ABSTRACT This short article shows that since 1999 the interest rate has been correlated to exchange rate volatility in Brazil. Therefore, it would be one of the reasons for not reducing the interest rate in Brazil.
DOI: 10.6084/m9.figshare.14319558.v1
title: Currency Fluctuation and Interest Rate in Brazil

description: ABSTRACT This short article shows that since 1999 the interest rate has been correlated to exchange rate volatility in Brazil. Therefore, it would be one of the reasons for not reducing the interest rate in Brazil.
DOI: 10.17870/bathspa.12409559.v1
title: Journeys with 'The Waste Land' - Margate Photos

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Margate exhibition as reference for the finished hung show. <br><b>Photo credits: Steve White and Thierry Bal</b><b>Used with permission. </b>
DOI: 10.17870/bathspa.12409559
title: Journeys with 'The Waste Land' - Margate Photos

description: <i>Journeys with 'The Waste Land'</i> was a major exhibition exploring the significance of T.S. Eliot's poem 'The Waste Land' through the visual arts. This was a three-year project to develop pioneering and innovative approaches towards curating and curatorial research.<br><br>This item contains photos of the Margate exhibition as reference for the finished hung show. <br><b>Photo credits: Steve White and Thierry Bal</b><b>Used with permission. </b>
DOI: 10.6084/m9.figshare.14319561
title: A Strategy of Development with Stability

description: ABSTRACT To resume economic growth after 20 years of quasi-stagnation depends on a growth strategy that combines macroeconomic stability with growth-oriented policies. The Real Plan stabilized prices, but, as a trade-off, the interest rate skyrocketed while the exchange rate remains artificially appreciated. The main challenge is to reduce the basic interest rate, which is considerably higher than the ones in countries with similar country risk classification. There are several reasons for that including little concern of the monetary authorities with reducing the interest rate, and the inverse relation between the interest rate and the default risk: the high interest rate defined by the Central Bank influences upward the Brazil risk.
DOI: 10.6084/m9.figshare.14319561.v1
title: A Strategy of Development with Stability

description: ABSTRACT To resume economic growth after 20 years of quasi-stagnation depends on a growth strategy that combines macroeconomic stability with growth-oriented policies. The Real Plan stabilized prices, but, as a trade-off, the interest rate skyrocketed while the exchange rate remains artificially appreciated. The main challenge is to reduce the basic interest rate, which is considerably higher than the ones in countries with similar country risk classification. There are several reasons for that including little concern of the monetary authorities with reducing the interest rate, and the inverse relation between the interest rate and the default risk: the high interest rate defined by the Central Bank influences upward the Brazil risk.
DOI: 10.6084/m9.figshare.14319564
title: The postsocialist transformation in Central and Eastern Europe

description: ABSTRACT What is attempted in the East is catching up with the West from a recent position of worse-than-Latin-American economic backwardness. Until now, populations that were sentenced to political patience by the logic of poor democracies have reluctantly backed this enormous effort. Central and Eastern Europe’s post-socialist path is characterized by an increasingly discredited ideology of a return to Europe and a non- European combination of substitute institutions of development: radical opening towards the world economy, damaged institutions of labor representation, eroded state capacity, and often strong private and foreign dominance in the financial and other strategic sectors. There is a chance for a few countries to succeed. Yet various development traps may be more likely in the end than a “Great Spurt” in the Gerschenkronian sense.
DOI: 10.6084/m9.figshare.14319566
title: Chile, entre el Neoliberalismo y el Crecimiento con Equidad

description: ABSTRACT During Pinochet’s dictatorship deep reforms were implemented in Chile. Certainly, many of them constituted permanent achievements for development strategies in democracy. However, economic growth between 1973 and 1989 was mediocre (averaging only 2.9% annually) and income distribution deteriorated notably. This was related to the fact that the reforms suffered from various flaws that had severe repercussions on the growth of potential GDP and on social welfare. In the 1990s, the governments of the Concertación launched several reforms to the reforms with the goal of injecting “pragmatism”. It focused on decreasing macroeconomic vulnerability when faced with an increasingly volatile external environment and on completing underdeveloped domestic markets. The result of the set of reforms to the reforms was that, during the entire decade, there was an unprecedented vigorous expansion of productive capacity (which averaged 7% per year), along with a significant reduction in poverty (from 45% to 21% of population). A recessive gap in 1999-2001, however, highlighted failures, increasing contradictions and the lack of greater reforms to the reforms.
DOI: 10.6084/m9.figshare.14319564.v1
title: The postsocialist transformation in Central and Eastern Europe

description: ABSTRACT What is attempted in the East is catching up with the West from a recent position of worse-than-Latin-American economic backwardness. Until now, populations that were sentenced to political patience by the logic of poor democracies have reluctantly backed this enormous effort. Central and Eastern Europe’s post-socialist path is characterized by an increasingly discredited ideology of a return to Europe and a non- European combination of substitute institutions of development: radical opening towards the world economy, damaged institutions of labor representation, eroded state capacity, and often strong private and foreign dominance in the financial and other strategic sectors. There is a chance for a few countries to succeed. Yet various development traps may be more likely in the end than a “Great Spurt” in the Gerschenkronian sense.