%0 Journal Article
%T Credibility and populism: the economic policy of the Goulart administrations in Brazil
%A Monteiro
%A S¨Ĥrgio Marley Modesto
%A Fonseca
%A Pedro Cezar Dutra
%J Estudos Econ£żmicos (S£żo Paulo)
%D 2012
%I Instituto de Pesquisas Econ?micas da FEA-USP
%R 10.1590/S0101-41612012000300004
%X the goulart administrations (1961-1964), which consisted of a parliamentary period and a presidential period, are considered typical examples of populism in brazil. the literature usually defines economic policies advanced by these administrations as "he-sitating", "irrational" or "ambiguous." we use a credibility model to argue that there is actually a consistent pattern in the manner in which economic policy was conducted. the credibility of the economic policies is defined to be the subjective probability that the government is following a monetary rule. early on, the administrations enacted inflation-fighting measures. however, these policies were costly, and the administrations abandoned the course of austerity. as a result, their credibility was diminished, and attempts to achieve stabilization failed.
%K populism
%K credibility
%K brazil
%K jo£żo goulart.
%U http://www.scielo.br/scielo.php?script=sci_abstract&pid=S0101-41612012000300004&lng=en&nrm=iso&tlng=en