The World Bank - Working for a world free of poverty

Views menu

Building Capacity through Rethinking Development

About us

About

This blog is maintained by the Growth and Crisis (GC ) Program of the World Bank Institute.

We bring you timely news, resources, tools, ideas and commentaries on issues related to the global economic crisis and growth.

October 2009

The Arrival of Asset Prices in Monetary Policy

Submitted by Otaviano on Thu, 10/22/2009 - 10:20

by Otaviano Canuto

Once upon a (not long ago) time, there was a widely established set of blueprints for regimes of monetary and exchange rate policies expected to fit a full range of economies, and to serve as a guide for international monetary cooperation. That world is gone with the global economic crisis. As I explain in my new policy note, The Arrival of Asset Prices in Monetary Policy, a reshuffling of views on monetary and exchange rate policies will probably accompany new financial regulation.

Here are some of the issues I discuss in my note–and hope to discuss with you too:

Survey Results: Brazil Stays Strong in the face of the Crisis

Submitted by Ihssane on Wed, 10/14/2009 - 12:38

(Thanks and Credits for this information go to the Brazilian Secretariat of Social Communication - SECOM)

Brazil is one of the world's fastest growing economies. An annual socioeconomic survey of over 150,000 households conducted by the Brazilian Government showed notable advances in housing, employment, education, access to services and a drop in income concentration among Brazilians for the year 2008 compared to the year 2007. The findings of this report, released on September 18, 2009, indicate that, thanks to major government investments in infrastructure, education, and local development, Brazil’s citizens have prospered alongside the booming economy.

According to the National Survey by Household Sampling (PNAD), conducted by the Brazilian Institute of Geography and Statistics (IBGE), Brazil saw an increase in the home ownership rate, formal jobs and income for workers, and home access to sewerage, telephone and Internet systems.

In 2008, the number of employed workers in Brazil was 2.8% higher than that of 2007, and totaled 92.4 million people.  This increase came largely from the construction sector, with growth of 14.1% that generated 900,000 new jobs across the country.  34.5% of employed Brazilians in 2008 were under formal contract employment, receiving all rights and benefits granted by law. This is an increase of 2.1 million people, from a 33.1% rate in 2007.  This increase resulted in a 5.9% increase in the number of Social Security taxpayers in 2008 as compared to 2007.