Determinantes externos e internos da atividade econômica no Brasil
Abstract
This paper aims to improve our understanding on the true determinants of aggregate output in our economy by means of a detailed investigation of the recessive episodes of 1981 and 1983. It concludes that public expenditures seem to be an important determinant of the level of activity but that is no clear evidence that the behaviour of monetary aggregates has any systematic influence on the behaviour of GDP. Selective restrictions on consumer credit and the real wage fall seem to be the main cause of the 1981 recession.
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Copyright (c) 1985 Estudos Econômicos (São Paulo)
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