Economic policies and stabilization in the Real Plan
DOI:
https://doi.org/10.11606/1413-8050/ea222317Keywords:
Real Plan, stabilization, exchange rate policy, monetary policyAbstract
The purpose of this article is to sketch a simple framework of analysis of the macroeconomic performance of the Brazilian economy. We show that the exchange policy of the Real Plan was completely right, in contradiction to many annalists who have always pointed its inadequacy. The weakness of the Real Plan must be search in the fiscal policy, which was highly inconsistent. Finally, the monetary policy can be seen as a great disaster. The reason was that with the extremely high interest rates the public debt increased enormously.
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