cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.19964720
title: Local multiplier of industrial employment: Brazilian mesoregions (2000-2010)

description: ABSTRACT This paper estimates the local multiplier of manufacturing for Brazil (2000-2010). The method is based on (Moretti, 2010) and on (Moretti and Thulin, 2012), who estimated these multipliers for the U.S. and Sweden. The local multiplier of manufacturing estimates the impacts of employment changes in the industrial sectors on employment in the services sectors, and the impact of changes in employment in the high-tech and low-tech tradable sectors on employment in the services sectors. These estimates help to assess the importance of industrial employment changes over local economies. We created instrumental variables, based on the shift-share method. The employment data cover 21 economic subsectors and 123 regions in 2000, 2005 and 2010. We have estimated that in the Brazilian mesorregions, for each new job in the tradable sectors, almost four jobs were created locally in the services sectors. Additionally, each job in the high-tech industrial sectors was estimated to create approximately seven jobs in the services sectors over the long term.
DOI: 10.6084/m9.figshare.19964720.v1
title: Local multiplier of industrial employment: Brazilian mesoregions (2000-2010)

description: ABSTRACT This paper estimates the local multiplier of manufacturing for Brazil (2000-2010). The method is based on (Moretti, 2010) and on (Moretti and Thulin, 2012), who estimated these multipliers for the U.S. and Sweden. The local multiplier of manufacturing estimates the impacts of employment changes in the industrial sectors on employment in the services sectors, and the impact of changes in employment in the high-tech and low-tech tradable sectors on employment in the services sectors. These estimates help to assess the importance of industrial employment changes over local economies. We created instrumental variables, based on the shift-share method. The employment data cover 21 economic subsectors and 123 regions in 2000, 2005 and 2010. We have estimated that in the Brazilian mesorregions, for each new job in the tradable sectors, almost four jobs were created locally in the services sectors. Additionally, each job in the high-tech industrial sectors was estimated to create approximately seven jobs in the services sectors over the long term.
DOI: 10.6084/m9.figshare.19964722
title: Transport infrastructure investment and regional inequalities in Brazil: an analysis of the impacts of the Growth Acceleration Program (PAC)

description: ABSTRACT The article analyses the effects of investments in infrastructure - in particular regarding transport sector carried out under the Growth Acceleration Program (PAC) - on the Brazilian regional dynamics. The hypotheses investigated in the study are: (i) infrastructure investments have contributed to the economic growth of the Brazilian states; (ii) PAC's infrastructure investments have helped to increase the economic growth rates of the Brazilian states, (iii) PAC's infrastructure investments have changed the dispersion of economic growth rates between states, in favor of poorer states. We employ the methodology of panel data for the estimates and bootstrapping for predictions. The empirical results only confirmed the first hypotheses, but not the last two ones, indicating that the PAC has not contributed significantly to amplify the average rate of growth of GDP per capita at state level; and also that PAC has not contributed to reduce regional inequalities.
DOI: 10.6084/m9.figshare.19964722.v1
title: Transport infrastructure investment and regional inequalities in Brazil: an analysis of the impacts of the Growth Acceleration Program (PAC)

description: ABSTRACT The article analyses the effects of investments in infrastructure - in particular regarding transport sector carried out under the Growth Acceleration Program (PAC) - on the Brazilian regional dynamics. The hypotheses investigated in the study are: (i) infrastructure investments have contributed to the economic growth of the Brazilian states; (ii) PAC's infrastructure investments have helped to increase the economic growth rates of the Brazilian states, (iii) PAC's infrastructure investments have changed the dispersion of economic growth rates between states, in favor of poorer states. We employ the methodology of panel data for the estimates and bootstrapping for predictions. The empirical results only confirmed the first hypotheses, but not the last two ones, indicating that the PAC has not contributed significantly to amplify the average rate of growth of GDP per capita at state level; and also that PAC has not contributed to reduce regional inequalities.
DOI: 10.6084/m9.figshare.19964725
title: The economy as a socially constructed object in the regulationnist and the Social Market Economy analyses

description: ABSTRACT This paper discusses the ontological arguments in favor of a methodological approach that recognizes the specific characteristics of economic phenomena, compared with those found in inorganic and organic systems. Their epistemological position is anti-positivist and anti-neoclassical because it rejects the attempt to analyses the socio-economic system by analogy with the physical and biological systems. In fact, this is a methodologic mistake, which occurs since the birth of Economic Science with the Physiocracy. These physicalist and organicist views contributes to weaken the heuristic, explanatory and predictive ability of the economic theories. To explore this issue, the present paper starting with a comparative analysis of the Regulation Theory and the Social Market Economy, theoretical currents where the concept of the institution and the historicity inherent in the production and distribution relationships are considered central. Unlike the objects of Physics and Biology, whose regularities and processes were not originally created by the human praxis, the economic object is socially and politically constructed and must have therefore specific theoretical and methodological status. Consequently, the relevance of the theories in the face of the observed economic regularities cannot be achieved by an axiomatic approach that makes the economy an essentially logical-deductive science and ahistorical by construction, nor the assumption of the existence of invariant general laws, purely economic and inescapable.
DOI: 10.6084/m9.figshare.19964725.v1
title: The economy as a socially constructed object in the regulationnist and the Social Market Economy analyses

description: ABSTRACT This paper discusses the ontological arguments in favor of a methodological approach that recognizes the specific characteristics of economic phenomena, compared with those found in inorganic and organic systems. Their epistemological position is anti-positivist and anti-neoclassical because it rejects the attempt to analyses the socio-economic system by analogy with the physical and biological systems. In fact, this is a methodologic mistake, which occurs since the birth of Economic Science with the Physiocracy. These physicalist and organicist views contributes to weaken the heuristic, explanatory and predictive ability of the economic theories. To explore this issue, the present paper starting with a comparative analysis of the Regulation Theory and the Social Market Economy, theoretical currents where the concept of the institution and the historicity inherent in the production and distribution relationships are considered central. Unlike the objects of Physics and Biology, whose regularities and processes were not originally created by the human praxis, the economic object is socially and politically constructed and must have therefore specific theoretical and methodological status. Consequently, the relevance of the theories in the face of the observed economic regularities cannot be achieved by an axiomatic approach that makes the economy an essentially logical-deductive science and ahistorical by construction, nor the assumption of the existence of invariant general laws, purely economic and inescapable.
DOI: 10.6084/m9.figshare.19964726
title: The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM

description: ABSTRACT Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the conventional money supply theory. The conventional approach relies on the money multiplier and bank lending is invisible. Post Keynesian theory discards the money multiplier and focuses on bank lending which drives money creation. The paper emphasizes the structuralist version of Post Keynesian theory which retains Keynes’ liquidity preference theory of long term interest rates and also recognizes banks are subject to financial constraints that limit their lending activities. The paper then shows how to derive the LM schedule in an endogenous money economy, which is a necessary prelude to reconstructing the ISLM model.
DOI: 10.6084/m9.figshare.19964726.v1
title: The theory of endogenous money and the LM schedule: prelude to a reconstruction of ISLM

description: ABSTRACT Money is at the center of macroeconomics, which makes understanding the money supply central for macroeconomic theory. This paper presents the Post Keynesian theory of endogenous money supply and shows how it is fundamentally different from the conventional money supply theory. The conventional approach relies on the money multiplier and bank lending is invisible. Post Keynesian theory discards the money multiplier and focuses on bank lending which drives money creation. The paper emphasizes the structuralist version of Post Keynesian theory which retains Keynes’ liquidity preference theory of long term interest rates and also recognizes banks are subject to financial constraints that limit their lending activities. The paper then shows how to derive the LM schedule in an endogenous money economy, which is a necessary prelude to reconstructing the ISLM model.
DOI: 10.6084/m9.figshare.19964728.v1
title: Monetary Policy in the Post Keynesian Theoretical Framework

description: ABSTRACT The purpose of this contribution is to develop a Post Keynesian monetary policy model, presenting its goals, tools, and channels. The original contribution this paper develops, following (Keynes’s 1936, 1945) proposals, is the use of debt management as an instrument of monetary policy, along with the interest rate and regulation. Moreover, this paper draws its monetary policy model by broadly and strongly relying on Keynes’s original writings. A monetary policy model erected upon this basis relates itself directly to the Post Keynesian efforts to offer a monetary policy framework substantially different from the Inflation Targeting Regime of the New Macroeconomic Consensus.
DOI: 10.6084/m9.figshare.19964728
title: Monetary Policy in the Post Keynesian Theoretical Framework

description: ABSTRACT The purpose of this contribution is to develop a Post Keynesian monetary policy model, presenting its goals, tools, and channels. The original contribution this paper develops, following (Keynes’s 1936, 1945) proposals, is the use of debt management as an instrument of monetary policy, along with the interest rate and regulation. Moreover, this paper draws its monetary policy model by broadly and strongly relying on Keynes’s original writings. A monetary policy model erected upon this basis relates itself directly to the Post Keynesian efforts to offer a monetary policy framework substantially different from the Inflation Targeting Regime of the New Macroeconomic Consensus.
DOI: 10.6084/m9.figshare.19964729
title: Why Dilma’s government cannot be classified as new developmentalist?

description: ABSTRACT This paper examines the role of new developmentalist agenda for actions in the economic area of Dilma Rousseff’s government. The paper aims to contribute to the research area that examines the relevance of schools of economic thought to economic policy in Brazil. The central conclusion is that - despite the increase in the state intervention in the economy - we cannot argue that the new developmentalist agenda played an important role in Dilma Rousseff’s government. The absence of a “national development strategy” and essential elements of the new developmentalist macroeconomic policy support this conclusion.
DOI: 10.6084/m9.figshare.19964729.v1
title: Why Dilma’s government cannot be classified as new developmentalist?

description: ABSTRACT This paper examines the role of new developmentalist agenda for actions in the economic area of Dilma Rousseff’s government. The paper aims to contribute to the research area that examines the relevance of schools of economic thought to economic policy in Brazil. The central conclusion is that - despite the increase in the state intervention in the economy - we cannot argue that the new developmentalist agenda played an important role in Dilma Rousseff’s government. The absence of a “national development strategy” and essential elements of the new developmentalist macroeconomic policy support this conclusion.
DOI: 10.6084/m9.figshare.19964731
title: Capital account regulation in Brazil: An assessment of the 2009-2013 period

description: ABSTRACT Brazil was one of the emerging countries that had a stronger trend of currency appreciation from the 2nd quarter of 2009 to July 2011. Under this context that can be understood the implementation of capital account regulation (CAR) after 2009, which was complemented with another kind of regulation, the so-called FX Derivatives Regulation (FXDR). This paper shows that only when Brazilian government adopted these two kinds of regulations simultaneously, the policy effectiveness increased in terms of protecting the Brazilian currency from upward pressures. Brazilian experience also highlights that it is not possible to establish a hierarchy between temporary instruments to manage capital flows and permanent prudential measures, as supported by the IMF current approach.
DOI: 10.6084/m9.figshare.19964731.v1
title: Capital account regulation in Brazil: An assessment of the 2009-2013 period

description: ABSTRACT Brazil was one of the emerging countries that had a stronger trend of currency appreciation from the 2nd quarter of 2009 to July 2011. Under this context that can be understood the implementation of capital account regulation (CAR) after 2009, which was complemented with another kind of regulation, the so-called FX Derivatives Regulation (FXDR). This paper shows that only when Brazilian government adopted these two kinds of regulations simultaneously, the policy effectiveness increased in terms of protecting the Brazilian currency from upward pressures. Brazilian experience also highlights that it is not possible to establish a hierarchy between temporary instruments to manage capital flows and permanent prudential measures, as supported by the IMF current approach.
DOI: 10.6084/m9.figshare.19964734.v1
title: A critical realist perspective on collective action in economics

description: ABSTRACT The mainstream of traditional economics assumes that the analyses of the economic relations is the individual, by the economic relationship among themselves (exchange) or by the economic relationship among individuals and things (production factors). Hardly the economical science takes assumptions about collectively organized individuals. In general, when it is done, it assumes that it is an effect of aggregate actions of isolated individuals, which means it lays on the grounds of methodological individualism. In microeconomics, for example, a statement about a group of individuals, a firm or a society, necessarily assumes that their actions are aggregate from the effects of individual optimizations, even if this requires very strict conditions for the individual beliefs and desires. This paper aims to present an alternative analytical framework to that paradigm, simultaneously compromised with a realist analysis and incorporating empirical and contextual elements allusive to human conduct. Positioning our emphasis in the meso-sociological level of analysis, we argue that the analysis of collective action, informed by critical realism, could be an alternative to drive the study of economics.
DOI: 10.6084/m9.figshare.19964734
title: A critical realist perspective on collective action in economics

description: ABSTRACT The mainstream of traditional economics assumes that the analyses of the economic relations is the individual, by the economic relationship among themselves (exchange) or by the economic relationship among individuals and things (production factors). Hardly the economical science takes assumptions about collectively organized individuals. In general, when it is done, it assumes that it is an effect of aggregate actions of isolated individuals, which means it lays on the grounds of methodological individualism. In microeconomics, for example, a statement about a group of individuals, a firm or a society, necessarily assumes that their actions are aggregate from the effects of individual optimizations, even if this requires very strict conditions for the individual beliefs and desires. This paper aims to present an alternative analytical framework to that paradigm, simultaneously compromised with a realist analysis and incorporating empirical and contextual elements allusive to human conduct. Positioning our emphasis in the meso-sociological level of analysis, we argue that the analysis of collective action, informed by critical realism, could be an alternative to drive the study of economics.
DOI: 10.6084/m9.figshare.19964735
title: Monetary cooperation: an analysis on SUCRE

description: ABSTRACT The initiative of the Unified System for Regional Compensation, the so-called SUCRE, concerted among the main countries that comprise ALBA, born in a context of great international turmoil caused by the financial crisis of 2008. Still in the consolidation process, the system has very ambitious goals, including the use of the progressive decoupling of the dollar. The aim of this paper is to analyze the SUCRE in force since January 2010. The initiative may be a key step towards construction of a new regional financial architecture to reduce external vulnerability and structural asymmetries in the region.
DOI: 10.6084/m9.figshare.19964735.v1
title: Monetary cooperation: an analysis on SUCRE

description: ABSTRACT The initiative of the Unified System for Regional Compensation, the so-called SUCRE, concerted among the main countries that comprise ALBA, born in a context of great international turmoil caused by the financial crisis of 2008. Still in the consolidation process, the system has very ambitious goals, including the use of the progressive decoupling of the dollar. The aim of this paper is to analyze the SUCRE in force since January 2010. The initiative may be a key step towards construction of a new regional financial architecture to reduce external vulnerability and structural asymmetries in the region.
DOI: 10.6084/m9.figshare.5669893
title: Financial interests and the capture of the State in Brazil

description: ABSTRACT The work explores the evaluation of (Bresser-Pereira, 2007) of which the Brazilian macroeconomic policy expresses the capture of the State by a coalition of rentiers and financiers interests, which also influences financial regulation. To this end, analyzes two investor relations agencies, of the Central Bank and of the National Treasury, and an investment promotion agency formed by regulators and regulated. Argues that these agencies strengthen communication and policymaking channels between regulators and regulated; attest to the influence of financial institutions on public policy decisions; and carry convergence of interests among financial investors and State. Concludes by assessing the thesis of macroeconomic policy capture is feasible and should be researched in a systemic way.
DOI: 10.6084/m9.figshare.5669893.v1
title: Financial interests and the capture of the State in Brazil

description: ABSTRACT The work explores the evaluation of (Bresser-Pereira, 2007) of which the Brazilian macroeconomic policy expresses the capture of the State by a coalition of rentiers and financiers interests, which also influences financial regulation. To this end, analyzes two investor relations agencies, of the Central Bank and of the National Treasury, and an investment promotion agency formed by regulators and regulated. Argues that these agencies strengthen communication and policymaking channels between regulators and regulated; attest to the influence of financial institutions on public policy decisions; and carry convergence of interests among financial investors and State. Concludes by assessing the thesis of macroeconomic policy capture is feasible and should be researched in a systemic way.
DOI: 10.6084/m9.figshare.5670307
title: Alternate paths to economic development:a comparative analysis of Brazil and India in the era of neoliberalism

description: ABSTRACT This paper compares and contrasts Brazilian and Indian strategies of development during the era of neo-liberalism from a long period perspective. The Brazilian economy has attempted to combine the goals of redistribution and social equity with the goals of growth and productivity. India on the other hand has pursued a growth maximizing approach to development, while paying little or no attention to the larger goals of human well-being. The article seeks to understand the dynamics of economic change in the two economies and attempts to draw out the institutional and political factors that have influenced these approaches.
DOI: 10.6084/m9.figshare.5670307.v1
title: Alternate paths to economic development:a comparative analysis of Brazil and India in the era of neoliberalism

description: ABSTRACT This paper compares and contrasts Brazilian and Indian strategies of development during the era of neo-liberalism from a long period perspective. The Brazilian economy has attempted to combine the goals of redistribution and social equity with the goals of growth and productivity. India on the other hand has pursued a growth maximizing approach to development, while paying little or no attention to the larger goals of human well-being. The article seeks to understand the dynamics of economic change in the two economies and attempts to draw out the institutional and political factors that have influenced these approaches.
DOI: 10.6084/m9.figshare.5669872
title: The ‘husbandry’ state and the tax incentives in the automobile sector

description: ABSTRACT Taking into account longevity of tax incentives in the automobile sector, this paper intends to pursue two consecutive objectives. Firstly, the paper describes the incentives implemented in the last decades were designed to promote the sector’s competitiveness. Secondly, this article presents a qualitative assessment of the role developed by the State in this segment. Based on literature on political economy and regulation, the claim of this research is that tax policies adopted in favor of automobile sector have favored more a “husbandry” State, rather than a “midwifery” one. In other words, the public policies established were typically oriented to protect a previous defined segment, instead of stimulating new competences and capabilities.