@article{Serrano_Summa_2016, title={Aggregate demand and the slowdown of Brazilian economic growth in 2011-2014}, volume={25}, url={https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/3549}, abstractNote={<p>This paper looks in detail at the sharp slowdown in the Brazilian economy for the years 2011-2014. We argue that the slowdown is overwhelmingly the result of a sharp decline in domestic demand, rather than a fall in exports and even less any change in external financial conditions. The sharp fall in domestic demand, in turn, is shown to be a result of deliberate policy decisions made by the government and was not necessary, i.e., it was not made in response to some external constraint such as a balance-of-payments problem.</p>}, number={Esp}, journal={Nova Economia}, author={Serrano, Franklin and Summa, Ricardo}, year={2016}, month={dez.} }