The Banco Central do Brasil's institutional framework after ten years

The Banco Central do Brazil (BACEN) adopted inflation targeting in 1999. This monetary policy regime originates in institutional design which remains crucial today for the expectations management, and is in permanent evolution. After 10 years, the BACEN institutional framework is assessed, asking if there is still room for improvement. Various institutional procedures are analysed, and lessons are drawn from the international experience of a panel of sixteen countries. Some proposals for the BACEN institutional framework are made.

A framework to understand human action

This paper consists in an analysis of two explanatory models of human behaviour which play a prominent role in the contemporary literature on human action. The first model - the causalist - aims at explaining action in terms of causes and general laws. The second model - the intentionalist - explains human action in terms of intentions and practical syllogism. The difficulties of both models are presented and in the last part of the essay we propose one alternative model, based on the notion of retroduction.