The Myth of Post-Reform Income Stagnation in Brazil (EPub)
Irineu E. Carvalho Filho · Mr. Marcos Chamon
Dec 2006 · International Monetary Fund
Ebook
26
Pages
About this ebook
This paper uses Engel curves to estimate real income growth in Brazil. The estimated per capita household real income growth in metropolitan areas during 1987-2002 is about 4½ percent per year, well above the "headline" growth of 1½ percent obtained by deflating nominal incomes by the CPI. This suggests a substantial CPI bias during that period, likely owing to one-off effects of trade liberalization and inflation stabilization. The estimated unmeasured gains are higher for poorer households, implying a marked reduction in "real" inequality. This finding challenges the conventional wisdom that post-reform real income growth in Brazil was low.
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