<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2020000300597</article-id>
<article-id pub-id-type="doi">10.20430/ete.v87i347.1080</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[De Dilma a Bolsonaro: la política económica de Brasil de 2011 a 2019]]></article-title>
<article-title xml:lang="en"><![CDATA[From Dilma to Bolsonaro: Brazilian economic policy in 2011-2019]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Barbosa-Filho]]></surname>
<given-names><![CDATA[Nelson H.]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Fundación Getulio Vargas Escuela de Economía de São Paulo ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brazil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2020</year>
</pub-date>
<volume>87</volume>
<numero>347</numero>
<fpage>597</fpage>
<lpage>634</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2020000300597&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2020000300597&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2020000300597&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo describe la política económica de Brasil de 2011 a 2019: abarca las administraciones de Dilma Rousseff, Michel Temer y el primer año de la de Jair Bolsonaro, y se enfoca en la política macroeconómica. Asimismo, describe la reacción de las autoridades ante los choques exógenos durante el periodo analizado y la evolución de la economía de Brasil. El argumento central es que la administración de Rousseff trató de expandir las políticas sociales de Lula, pero se enfrentó a un escenario lleno de adversidades y tuvo que dar marcha atrás para adoptar una política defensiva. En dicho periodo hubo también una serie de errores de política económica debidos usualmente a la suposición optimista de que la economía se recuperaría rápidamente tras un choque adverso. Cuando esto no ocurrió, la situación monetaria y fiscal del país se volvió cada vez más frágil, lo que culminó con la destitución de Rousseff y con la llegada de un gobierno de extrema derecha -el de Bolsonaro- al poder.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper describes the Brazilian economic policy during 2011-2019, encompassing Dilma Rousseff&#8217;s, Michel Temer&#8217;s and the first year of Jair Bolsonaro&#8217;s administrations. The focus is on macroeconomic policy, and the analysis describes how the authorities reacted to the exogenous shocks during the period under analysis and the very own evolution of the Brazilian economy. The central argument is that the Rousseff administration tried to expand the social policies of Lula, but it faced a very adverse scenario and had to revert to a defensive policy. There was also a series of errors of economic policy in the period, usually based on the optimistic assumption that the economy would recover quickly after an adverse shock. When that did not happen, the monetary and fiscal situation of the country became more and more fragile, which culminated in Rousseff&#8217;s impeachment and the ascent of an extreme right-wing government, Bolsonaro&#8217;s, to power.]]></p></abstract>
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<kwd lng="es"><![CDATA[política económica]]></kwd>
<kwd lng="es"><![CDATA[Dilma Rousseff]]></kwd>
<kwd lng="es"><![CDATA[Jair Bolsonaro]]></kwd>
<kwd lng="es"><![CDATA[N16]]></kwd>
<kwd lng="en"><![CDATA[Brazil]]></kwd>
<kwd lng="en"><![CDATA[economic policy]]></kwd>
<kwd lng="en"><![CDATA[Dilma Rousseff]]></kwd>
<kwd lng="en"><![CDATA[Jair Bolsonaro]]></kwd>
<kwd lng="en"><![CDATA[N16]]></kwd>
</kwd-group>
</article-meta>
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