TAYLOR'S STRUCTURALIST RULE APPLIED TO THE BRAZILIAN ECONOMY BETWEEN 2003 AND 2015

Douglas Alcantara Alencar (), Joás Lima (), Emanoelle Luz () and Wallace Pereira ()
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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)

Revista de Economia Mackenzie (REM), 2023, vol. 20, issue 2, 92-116

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.

Keywords: Taylor’s rule; structuralism; Post-Keynesian macroeconomics; Brazil; New-keynesian model. (search for similar items in EconPapers)
JEL-codes: E12 E17 E42 E43 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/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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