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Taylor'S Structuralist Rule Applied To The Brazilian Economy Between 2003 And 2015

Author

Listed:
  • Douglas Alcantara Alencar

    (Universidade Estadual Paulista (UNESP))

  • Joás Lima

    (Universidade Federal do Rio de Janeiro (UFERJ))

  • Emanoelle Luz

    (Universidade Federal do Pará (UFPA))

  • Wallace Pereira

    (Universidade Federal do Pará (UFPA))

Abstract

The Taylor Rule is currently shown to be an important tool for conducting macroeconomic policy in many emerging countries. However, its simple structu-re, taking into account only exogenous variations without considering the vicis-situdes present on the side of the real economy, make it a measure still incomple-te. The structuralist Taylor Rule in this article is an alternative proposal for driving the real economy that seeks to consider the strong impacts generated by the func-tional distribution between profits and wages, taking the participation of wages as the fundamental component for the decisions of the Central Bank.

Suggested Citation

  • Douglas Alcantara Alencar & Joás Lima & Emanoelle Luz & Wallace Pereira, 2023. "Taylor'S Structuralist Rule Applied To The Brazilian Economy Between 2003 And 2015," Revista de Economia Mackenzie (REM), Mackenzie Presbyterian University, Social and Applied Sciences Center, vol. 20(2), pages 92-116, july-dece.
    • Handle: RePEc:aft:journl:v:20:2:2023:jul:dec:p:92-116
    DOI: 10.5935/1808-2785/rem.v20n2p.92-116
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    More about this item

    Keywords

    Taylor’s rule; structuralism; Post-Keynesian macroeconomics; Brazil; New-keynesian model.;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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