RESEARCH DEPARTMENT
RESEARCH DEPARTMENT

Res authors Detail

RESEARCH ECONOMIST
JOÃO AYRES
JOÃO AYRES

João Ayres is a Research Economist in the Research Department at the Inter-American Development Bank. He received his B.Sc. in Economics from the University of Sao Paulo, his M.Sc. and D.Sc. in Economics from Getulio Vargas Foundation, and his Ph.D. in Economics from the University of Minnesota. During his studies, he held visiting positions at Columbia University, Federal Reserve Bank of New York, and worked as a Research Analyst at the Federal Reserve Bank of Minneapolis. His research focuses on international economics, macroeconomics, and public finance.

LATEST OPINION PIECES

When Worsening Credit Conditions Trigger Recessions

Economists have long known that aggregate measures of economic activity vary during recessions.  Unemployment rates increase, for example, while both GDP growth and investment rates decrease. But when we look at actual firms, the individual units of production in an economy, during a recession do they all behave in the same way? And if not, […]

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What Brazil Can Teach About Fighting Inflation

For much of the 1980s and early 1990s, Latin America and the Caribbean was in the throes of hyperinflation. In 1990, for example, 16 of 20 countries in the region had inflation rates above 20%, while in 2018 only three of those countries had inflation above 8%, according to IMF figures. The main ingredients to […]

The post What Brazil Can Teach About Fighting Inflation appeared first on Ideas Matter.

When Central Bank Autonomy Makes All the Difference

Since the late 1990s, a broad reform movement has swept Latin America, aimed at granting independence to central banks and freeing them from government pressure to print money to finance government spending. Laws have been passed and constitutions changed to allow independent central banks to focus on the fight against inflation. A more complicated case […]

The post When Central Bank Autonomy Makes All the Difference appeared first on Ideas Matter.

A New Look at Real Exchange Rates

The real exchange rate — or the cost of a country’s goods relative to foreign goods — has long been a fundamental measure of the strength of a nation’s importers and exporters. Among important commodity exporters in Latin America, it is closely tied to the price of commodities. But commodity prices aren’t only essential for […]

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When Expectations Push a Country to Default

Countries have long relied on the issuance of debt to finance their expenditures and investments. However, it can be risky. Episodes such as the worldwide debt crisis of 1983, with its dramatic effects on Latin America, and the more recent European debt crisis, show that countries need to be cautious when choosing their debt levels. […]

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