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English Center for Applied Economics (CEA)
Coordinated by Prof. Aloisio Araujo, the Center for Applied Economics (CEA) has as its main objective to produce and disseminate intellectual works that have an impact on the current economic debate on several relevant topics on the Brazilian agenda.
From the beginning of 2022 until June 2025, the Center had had eight projects under development, and was also invited to participate in seminars, panels and meetings (webinars) promoted by notable institutions:
1 - "CAPES PRINT – Labor Market, Taxation, Social Security and Economic Development: Theory, Evidence and Reform Proposals." - Coordinated by Prof. Felipe Iachan.
The project seeks contributions to the understanding of the Brazilian reality, with an emphasis on the labor market, taxation and the dynamics of firms. The main objects of study are: factors that determine the informality of employment relationships, compliance with tax and labor rules, the evolution of firms in different sectors, and the income dynamics of formal and informal workers. Some of the contributions of the project are:
(i) Survey of empirical evidence on tax evasion and payroll taxation: exploring how the degree of tax evasion (and/or informality) relates to tax collection. Identifying regularities between evasion and important sectoral characteristics.
(ii) Theoretical contribution to the literature on tax policies: This work also aims to contribute theoretically to the issue of optimal taxation and tax evasion, proposing a model that allows us to clarify the behavior observed in the empirical evidence. The model will highlight scope for action to re-optimize the tax and social security systems.
(iii) Taxation and evasion in Brazil: The study aims to assess the impacts of various payroll tax relief and burden policies in the presence of evasion and informality and to use this information to propose improvements to the tax system. Activities will be carried out with teaching and research institutions in the United Kingdom.
(iv) Workers' income dynamics: A different aspect of the work seeks to identify the income and work incapacity risks to which formal and informal workers are subject in the Brazilian economy.
It allows for general lessons to be drawn for the design of social security systems in developing countries, where a large part of the economic activity occurs with some degree of informality and limited compliance with tax and labor legislation.
(v) Dynamics of formal and informal firms: The work seeks to identify how the high degree of informality can distort competition and limit the growth of productive firms, contributing to a general reduction in the level of productivity and well-being in the economy. (vi) Social security and taxation.
2 - CAPES PRINT – Applied Microeconomics: Public Policy Assessment and Improvement of Bankruptcy Law". Coordination - Prof. Luis Henrique Braido"
Theoretical and empirical economic literature provides evidence of the important role that mechanisms such as the Bankruptcy Law play in the development of the credit market and, ultimately, in the economic development of a country.
For this reason, aiming to increase its effectiveness (through, among other changes, increased protection for insured creditors), a major reform of the bankruptcy legislation was promoted in Brazil in 2005, largely inspired by American legislation, and which brought positive and relevant impacts on the credit market and corporate productivity, as evidenced by two relevant academic works:
Araujo, A. P., R. V. Ferreira, and B. Funchal (2012). The Brazilian bankruptcy law experience. Journal of Corporate Finance 18 (4), 994-1004; Ponticelli, J. and L. S. Alencar (2016). Court enforcement, bank loans and firm investment: Evidence from a bankruptcy reform in Brazil. The Quarterly Journal of Economics 131 (3), 1365-1413).
However, the recovery rate of creditors in the country remains very low. According to data from the World Bank, there was a significant increase after the reform (from 0.2% in 2004 to 12% in 2007 and remains at the same level in 2017), but the rate stabilized at a level still well below the average of other countries (Latin America: 26%; OECD: 72%).
Despite the great advances achieved with the 2005 reform, significant frictions may be limiting the contributions of the bankruptcy system. This project aims to build an extensive database of Brazilian bankruptcy proceedings in order to investigate potential inefficiencies in the system and propose improvements in the legislation
3 - "CAPES PRINT – Macroeconomic Theory and Policies" - Coordination - Prof. Aloisio Araujo.
Develop a model that allows evaluating a level of international reserves that maximizes a measure of well-being of a country that, in order to acquire external assets, issues public bonds denominated in local currency.
The formulation of macroeconomic policies in emerging countries must take into account unique problems, which are potentially different from those faced by developed countries. From this perspective, the project will address three relevant issues of macroeconomic policy, based on contemporary theoretical models that will be refined during the research.
The themes are: external crises under fiscal fragility, productivity and well-being with a shortage of human capital, and taxation of corporate profits under the risk of financial crises. The inflation targeting regime, introduced in Brazil in 1999, has been an important ally in ensuring monetary stability.
However, the recent fiscal deterioration, in which gross debt went from 50% of GDP in 2013 to 80% in 2020 According to projections by the Brazilian Institute of Economics (IBRE), this poses a challenge to the successful performance of the Central Bank.
This fiscal trajectory will reduce the capacity to coordinate inflation expectations at low levels and will limit the scope of monetary policy, as well as increase the cost of policies to accumulate reserves to protect against external crises.
Also due to fiscal fragility, debates have been intense in Brazilian society about the appropriate level of spending on health and education.
The period after redemocratization is associated with lower productivity growth rates on average compared to previous decades, and the increase in social spending financed by taxation is sometimes considered a reason for the worse productivity performance.
On the topic of financial crises, the 2008 crisis presented at least two new relevant characteristics. One in the way the crisis occurred, and the other in the form of the economic policy response.
The first refers to the characteristic of the crisis that affects the non-traditional banking system (the "repo" market and its adoption of derivatives) and produces contagion for insurance companies and industrial sectors such as automakers, observing a generalized "flight to safety". The second refers to "Quantitative Easing" and the consequent massive purchase of private bonds by the FED, while the response of the productive sector was extremely slow ("great recession").
Would an increase or reduction in taxes on corporate earnings be necessary to avoid a repetition of the phenomenon? And would emerging countries be able to implement a policy similar to that of the FED?
4 - "Design and evaluation of reforms in Brazil: 2020 bankruptcy law".
Recently, the National Congress has been discussing and approving important institutional reforms that are long overdue. This project aims to evaluate one of them, bankruptcy law 14.112/2020, which brought changes to the role of the tax authorities, DIP financing and the approval of out-of-court recoveries. Its objectives are to increase access to credit, reduce tax litigation and speed up processes.
To analyze the impacts of these changes, we will build a database with information on legal proceedings after 2020. They will be obtained from the Electronic Court Gazettes (DJE) of the Court of Justice of São Paulo and, when necessary, from the case records. They are essential for identifying which companies are in which bankruptcy proceedings, when they began, if they have already ended and, if so, when and what their outcomes were. It is also important to know the judges responsible for the proceedings when making causal inferences, since the literature in the area emphasizes the importance of separating the impacts of the law on the outcomes of the proceedings from the impacts of how the judges conduct them. We will also use data identified from the Annual Social Information Report (RAIS), from the Ministry of Labor and Employment, on companies in bankruptcy proceedings to understand their profiles and how they impact their distribution among proceedings and the outcomes of each proceeding. To obtain information on the credit agreements signed by the companies in question, data from the Credit Information System (SCR), from the Central Bank of Brazil, may be necessary.
First, when presenting the impacts of the reform 2020, even the initial ones, the project will provide support for judges to reflect on the best way to apply the law. What has worked, where it has worked and how the law has been applied are some of the questions that the results of the project could help answer. This would also help to standardize the actions of the courts, bringing greater legal certainty and helping the law to fulfill its objectives.
In the longer term, we intend to prepare an academic working paper where We will look for causalities, not just descriptions of what happened after the 2020 reform. Both its results and those of the policy paper can be used to further improve the law, as was the case with the results of research derived from a previous project, funded by FGV, which contributed to the reform that this project aims to study.
5 "Design and Evaluation of Reforms in Brazil: Taxation on Consumption".
The objective of the research project is to estimate the impact of a Tax Reform in Brazil, through a general equilibrium model that considers firm size, input-output links, foreign trade and the labor market with the informal sector. In order for the model to have these characteristics and be realistic, we will use secondary data, such as the databases of IBGE (Input-Output Matrices, ECINF, Agricultural Census, PNAD), Ministry of Labor and Social Security (RAIS) and Federal Revenue (PIS/COFINS Collection).
The data will be important both for estimating some parameters of the model (for example, the share of labor income in GDP) and for determining whether the model is replicating some aspects of reality well, such as the revenue of a given sector. The use of data will not involve interaction with participants.
6 - "Evaluation of the Expansion of Brazilian Preschool and Daycare Networks: Effects on proficiency, school delay and learning inequality".
Since the mid-2000s, Brazil has experienced an increase in enrollments in daycare centers and preschools driven by the need to improve the educational and employment rates of mothers, especially those with low levels of education. This change stems from the implementation of Fundeb and the enactment of Constitutional Amendment 59 and, although there is extensive literature evaluating interventions in early childhood, there is little evidence regarding early childhood education policies on this scale. We seek to assess whether this policy has been fulfilling its objectives.
The ability of early childhood interventions to permanently promote cognitive and socioemotional development has been well documented in several randomized controlled trials. There is less evidence regarding large-scale early childhood education policies, but quasi-experimental evaluations of policies adopted in developed countries reveal that their effects depend largely on two factors: the quality of the education provided and the social context of the children benefiting from them. Due to the smaller amount of resources invested, the quality of early childhood education in developing countries tends to be lower, in addition to the higher proportion of children in socially vulnerable situations. Thus, the impacts observed in developed countries may differ in magnitude and sign from those resulting from similar policies adopted in developing countries. To shed light on this issue, this project will use econometric methods to assess whether the expansion of daycare and preschool networks in Brazil since the mid-2000s, resulting from the implementation of Fundeb and Constitutional Amendment No. 59, has been effective in improving the academic performance of students in Brazilian public schools, reducing academic delays in various stages of education, and reducing learning inequality within public education systems.
In the immediate term, we hope that this project will contribute to public management by providing an assessment of an educational policy that has already been adopted and is still in progress, serving as input for public managers to make better-informed decisions regarding the education system and fostering debate on the prioritization of early childhood education vis-à-vis other stages of education.
In addition, if it gains media visibility, this project has the potential to justify the increase in spending on early childhood education, which will occur as a result of the implementation of the new Fundeb and the natural process of demographic transition. In this way, this study can serve to ensure the continuity of investments in this stage of education, playing the role of evidence during the process of reviewing the rules of the new Fundeb, scheduled to take place in 2026.
Therefore, we hope that our project will help to consolidate the priority that Brazilian society, through the National Congress, has been giving to formal education in early childhood, in order to repeat in Brazil a positive experience already seen in several other countries.
7 - "CNPQ – Quantitative Methods of General Equilibrium and Others for Analyzing Monetary Policies, Taxation and Growth." - Coordination - Prof. Aloisio Araujo.
General equilibrium methods are developed and applied with decision theory, simulation and empirical methods to analyze short-term macroeconomic problems with fiscal fragility, as well as problems of economic growth. In particular, empirical studies will be carried out regarding bankruptcy legislation. Issues of taxation and inequality and economic well-being.
8 - "Informality, Quality and Self-Productivity: Heterogeneities in the Effects of Early Childhood Education in Brazil"
We will continue a previous study that estimated the effects of early childhood education on school performance in Brazil. Its results confirmed the external validity of the effects of preschool and suggested that the effects of attending daycare vary with the degree of formality. This new project seeks to understand this heterogeneous relationship between informal daycare and learning.
We will investigate the spatial distribution of informal daycare and attempt to determine its immediate determinants, focusing on the Amazon region where some of the most impoverished municipalities are concentrated. We will also estimate the heterogeneous effects of daycare in terms of the rate of formality and quality, as well as between regions and black and indigenous populations.
As for preschool, we will address the heterogeneity of its effects on school performance across the distribution of enrollment rates. We will assess whether universal access to preschool makes the skills taught at this stage complementary and dynamic to those taught in the first years of elementary school. We will use several publicly accessible Brazilian databases to measure the formality rates of daycare centers and calculate preschool enrollment rates. Thus, this research will only use secondary data. More specifically, we will compare enrollment rates that can be obtained through data self-reported by students or families (long questionnaire from the 2010 Demographic Census and socioeconomic questionnaires from the SAEB) with enrollment rates calculated through administrative data (School Census) and population counts. This way, it is possible to compare the frequency of what parents or students themselves consider to be daycare with the frequency of daycare centers duly registered with the government, thus allowing us to calculate the degree of formality of daycare centers in each municipality and over certain periods. Regarding preschool, in the previous project we calculated the net enrollment rates in all Brazilian municipalities for the period from 2007 to 2012. To do so, we used data from the School Census, the 2010 Demographic Census, and population estimates calculated by the IBGE for different purposes. Once we obtained these rates, we can estimate the effects of attending preschool on school performance in Elementary School in municipalities where this type of education was practically universalized and compare them with the effects in municipalities where it was not.
In March 2022, Professor Aloisio Araujo participates in the event “PGMAC WEBINARS” at the State University of Londrina.
Lecture title: “Refinement of Dynamic Equilibrium with Small Random Perturbations”.
In April 2022, in the USA, the Professor was invited to participate in the Seminar - “Minnesota Economics Seminars”, where he presented the work - “Risk Loving, Growth, and Redistribution.”
The same work was presented at the FED - Federal Reserve Bank of Minneapolis event.
Professor Aloisio Araujo, who is a member of the scientific council of the BSE (Barcelona School of Economics), participates in the “Scientific Council Meeting” Seminar in Barcelona, in May 2022.
During this two-day event, he participated in the “Round Table on “Present and future economic challenges: a BSE conversation” with BSE Scientific Council members, as well as in plenary sessions, two Seminars, one of them at Columbia Business School, as well as at the University of Chicago.
Columbia Business School Money-Macro Workshop. Inflation Targeting under Fiscal Fragility. 2022. (Seminar).
Professor Aloisio Araujo, participates in SWET 2022 at the Université Paris, where he presents his work - Risk Loving, Growth, and Redistribution.
Professor Aloisio Araujo presents the lecture “Mathematical Methods in Economics: General Equilibrium, Reforms, causality and early childhood education”
On August 16, 2022, Professor Aloisio Araujo gave the lecture “Mathematical Methods in Economics: General Equilibrium, Reforms, Causation and Early Childhood Education”, at IMPA – Cientista do Nosso Estado - FAPERJ.
The “16th Annual Conference on General Equilibrium and its Applications”, held at the Yale School of Management, in September 2022, was attended by Professor Aloisio Araujo.
In NY, in September 2022, Professor Aloisio participated in the event at Columbia Business School, where he presented his work at the “Money-Macro Workshop” Seminar – “Growth, inequality, and taxation with risk loving and specialization.”
Still in the USA, invited by Professor James Heckman, from the University of Chicago, the professor is invited to present the work “Growth, inequality, and taxation with risk loving and specialization”
Professor Aloisio Araujo presents the lecture “Mathematical Economics - Theory, Numerical and Empirical Models”
On October 29, 2022, Professor Aloisio Araujo presented the lecture “Mathematical Economics – Theory, Numerical and Empirical Models” at the Ceará Academy of Mathematics.
In November 2022, Professor Aloisio presented his work entitled “Inflation Targeting under Fiscal Fragility” at the LACEA LAMES MEETING, held in Lima, Peru.
Professor Aloisio will participate in the EPGE event in November 2022 - Celebrating 20 years of the Undergraduate Course of the Brazilian School of Economics and Finance”
The undergraduate course in Economics at EPGE - Brazilian School of Economics and Finance (FGV EPGE) celebrated its 20th anniversary. To celebrate this milestone, a celebratory event was held on November 10. The School brought together professors, students and alumni in an event to remember this trajectory, talk about the professional achievements of the student body and discuss topics related to the market.
The opening was carried out by the Director of EPGE, Professor Rubens Penha Cysne and by the vice-director of EPGE, Aloisio Araujo. The Panels were moderated by the Undergraduate Coordinator, José Féres; by EPGE professor, Marcelo Sant’Anna and by EPGE professor, Layla Mendes.
Professor Aloisio Araujo participates in the “SBE - 44th Meeting of the Brazilian Econometric Society”, held in Fortaleza in December 2022, where he presented the paper “Inflation Targeting under Fiscal Fragility.”
COSUD 2023 - Professor Aloisio Araujo participates in the Tax Reform Conference in March 2023.
On March 3, the 7th meeting of the South and Southeast Integration Consortium (COSUD) took place. EPGE professor Aloisio Araujo participated in the event as a moderator at the Tax Reform Conference. Bernard Appy, from the Ministry of Finance, Governor of Rio de Janeiro - Claudio Castro, Governor of Rio Grande do Sul - Eduardo Leite and André Esteves – Chairman and Senior Partner of BTG Pactual were present.
In March 2023, Professor Aloisio presented his work entitled “Inflation Targeting under Fiscal Fragility” at the Research Seminar, held at EPGE.
The event was attended by economist Sérgio Werlang (advisor to the president of FGV) and columnist and special reporter for Valor Econômico, Alex Ribeiro.
The paper was produced by Araujo, co-authored by Rafael Santos, Paulo de Carvalho Lins, and Serge de Valk. In this paper, a model is developed that allows us to study what the inflation target should be based on the debt-GDP ratio. The model introduces an intermediate zone of debt and GDP, which the authors call the fiscal fragility zone, in which the inflation target may not be reached due to a bad shock. For high debt levels, we fall into the so-called fiscal dominance zone, in which the target is never reached.
Professor Aloisio presented his paper entitled “Should Governments Tax Commodities Uniformly? Theory and Evidence from Brazil” at the Research Seminar, held at EPGE, on April 11, 2023.
On April 13, 2023, in the auditorium of the ABL - Brazilian Academy of Letters, promoted by Insight Comunicação, Professor Aloisio Araujo participated in the Seminar "Agendas for Brazil - Paths to Renewal”.
The seminar was attended by Christian Lynch, political scientist; Nelson Jobim, former minister of the STF and former minister of Justice and Defense; Nísia Trindade, social scientist; Pedro Dória, journalist; Rosiska Darcy de Oliveira, writer and member of the ABL; Silvio Almeida, philosopher and Minister of Human Rights and Citizenship.
In Minnesota, on April 26, 2023, Professor Aloisio was invited to participate in the Brownbag Economics Seminar, at the Department of Economics, where he presented the title “"Should governments tax commodities uniformly? Theory and evidence from Brazil".
On May 17, Professor Aloisio Araujo was invited to speak at the conference in honor of José Alexandre Scheinkman, one of the most influential Brazilian economists internationally and a long-time partner of Insper.
The conference was attended by several leading figures in international economic research. Some of the research areas in which Scheinkman made his greatest contributions were explored, such as finance, social interactions, theory and methods, as well as his impact on the economy and academia in economics in Brazil.
Professor Aloisio Araujo participated in the event at the Cultural Center on May 22, 2023, where FGV received the Pedro Ernesto Medal of Merit.
EPGE Escola Brasileira de Economia e Finanças (FGV EPGE) received the Pedro Ernesto Medal of Merit. The honor is the highest award granted by the city council of Rio de Janeiro and is given to individuals and entities that have distinguished themselves in Brazilian or international society.
Professor Rubens Penha Cysne emphasized the importance of the award, highlighting the School’s long-standing tradition and excellence. “It was with great pride that we received, on behalf of EPGE, the medal and diploma that express the recognition of the city of Rio de Janeiro for the services rendered to its administration over the 65 years of the School’s existence. I also highlight the excellence with which some of the School’s more recent students, such as Flavio Valle and Marcel Balassiano, have served in the municipal government.”
In addition to the President of the City Council, Councilman Carlo Caiado, the ceremony was attended by Professor Aloisio Araujo, Vice Director of EPGE; Aspásia Camargo, former Councilwoman of Rio de Janeiro; Mr. Carlos Ivan Simonsen Leal, President of FGV; Eduardo Cavaliere, Chief of Staff of the Government of Rio de Janeiro; Professor Lucas Jóver Maestri, EPGE Graduate Program Coordinator; Renê Garcia Junior, Secretary of Finance of the State of Paraná; and Professor Rubens Penha Cysne, Director of FGV EPGE.
On May 23, 2023, Professor Aloisio Araujo participated in the seminar organized by IPEA titled “Inflation Targeting Regimes.”
In November 2023, Professor Aloisio was invited to participate in the Memorial Service in Honor of Edward Prescott, held in Arizona, USA.
Professor Edward C. Prescott was a Nobel laureate and distinguished academic.
In December 2023, FGV celebrated its 79th anniversary with the return of its traditional in-person celebration at the FGV Cultural Center.
The celebration honored employees who had completed decades of service at the Foundation, and Professor Aloisio was recognized with a plaque commemorating his 40 years at FGV.
Also in December 2023, Professor Aloisio Araujo appeared on the “Conversa com Economistas” channel, where he spoke with Professor Flavio Ataliba in Program 1: The Evolution of Economic Thought and Public Policies in Brazil.
The conversation covered various topics, including his academic journey, advances in economic theory, industrial policy, tax reform, and the importance of mathematics education in economics.
At the beginning of 2024, Professor Aloisio participated in SAET, presenting the paper “Should Governments Tax Commodities Uniformly? Theory and Evidence from Brazil.”
In June 2024, he participated in EWET in Manchester, where he presented the paper “Inflation Targeting under Fiscal Fragility.”
He was also invited to speak at SED in Barcelona in June 2024, presenting the same paper.
On June 12, EPGE hosted the inaugural lecture titled “Advances and Challenges of the Brazilian Economy: How Can (Should!) We Contribute,” delivered by Bruno Funchal, CEO of Bradesco Asset Management and PhD from FGV EPGE.
The panel included the speaker, Professor José Féres (Undergraduate Program Coordinator), and Professor Aloisio Araujo (Vice Director of FGV EPGE).
Professor Aloisio Araujo participated in the VII FGV Research Symposium – “Panel: Tax Reform and the Fiscal Framework” on September 14, 2023, at the FGV Cultural Center.
In October, in Brasília, he was a guest at the “2nd International Workshop on General Equilibrium: Theory and Applications,” where he presented the paper “Should Governments Tax Commodities Uniformly? Theory and Evidence From Brazil.”
The event was organized by the Catholic University of Brasília.
Professor Aloisio Araujo also participated in the “2nd International Workshop on Macro-Finance and Financial Econometrics” held at the Catholic University of Brasília on October 10–11, 2024, where he presented his paper “Inflation Targeting under Fiscal Fragility.”.
On October 17, 2024, he participated in an event at the Federal Reserve Bank of Minneapolis – “A new annual conference and initiative of the Federal Reserve Bank of Minneapolis, the University of Chicago, and Stanford University”.
In November 2024, Professor Aloisio was in Montevideo, Uruguay, where he presented the paper “Growth and Redistribution with Heterogeneous Attitudes Toward Risk” and was invited to chair a session on Economic Theory.
At the SBE conference held in Natal, Rio Grande do Norte, on December 10, 2024, Professor Aloisio participated remotely as a guest in a special session honoring Marilda Sotomayor – “46th Brazilian Econometric Meeting – Marilda's Celebration Session.” His presentation was titled “An Appraisal of Marilda Sotomayor’s Scientific Achievements: A View from Early Times”.
In December 2024, researchers from EPGE, including Professor Aloisio Araujo, won 1st place in the 29th National Treasury Prize in the “Public Finance Articles” category..
The award-winning article analyzes the impacts of tax reform on consumption in Brazil.
The research, conducted by Gil dos Santos Navarro (EPGE PhD student), Aloisio Araujo (EPGE professor), and Thiago Sevilhano Martinez (EPGE PhD), was titled “Reform of Indirect Taxes in Brazil: Firm Dynamics, Informality, and the Simples Nacional,” and explores the economic effects of the recently approved tax reform on consumption.
Em março de 2025, o Professor Aloisio foi convidado para participar do evento - Brazil: Coping With Macro Volatility Amidst Enviromental And SociaI Challenges, organizado por The Miami Herbert Business School, na University of Miami, Storer Auditorium..
He participated as a keynote speaker with the talk titled “Inflation Targeting, Fiscal Fragility, and Exchange Rate Instability.”
Also in March, he was a guest on the podcast “Conexão Econômica | The Value of Education and the Training of Economists in Brazil”.
No primeiro episódio da segunda temporada do podcast Conexão Econômica, nosso host, Flávio Ataliba, recebeu o ilustre economista e pesquisador Aloisio Pessoa de Araujo. Membro da Academia Nacional de Ciências dos EUA e membro titular da Academia Brasileira de Ciências, Aloísio é professor do Instituto de Matemática Pura e Aplicada (IMPA) e da FGV EPGE. Nesta conversa, ele relembrou sua trajetória acadêmica e profissional, incluindo o período que passou na Universidade de Berkeley, Califórnia, cercado de grandes nomes que fizeram história na estatística e na economia - dentre eles, John Nash Jr. e John Harsanyi. Aloisio também contou um pouco sobre sua contribuição em temas como Teorema do Limite Central, além de falar sobre equilíbrio geral, fragilidade fiscal e dominância.
Professor Aloisio Araujo “Na Mídia”:
2022 - “New Foreign Exchange Law Requires Caution”” – Valor Econômico – São Paulo
2022 - “Economist Aloisio Advocates for the CMN to Adjust the 2023 Inflation Target to 4%” - Valor Econômico – São Paulo
2023 - “Government Should Assume Part of the Risk of Tax Reform” - Valor Econômico – São Paulo
2023 - “Reflections on Tax Reform” – Valor Econômico – São Paulo
Professor Aloisio Araujo gave an interview for the article: "Single VAT Rate May Be Inadequate, Says Aloisio Araujo" - Valor Econômico - 11/23/2023
Professor Aloisio Araujo gave an interview for the article "'Selective Tax Allows the Standard Rate Not to Be So High,’ Says Economist', Says Aloisio Araujo" - O Globo Online - 04/26/2024
Professor Aloisio Araujo was mentioned in the article: “Economists and Politicians Mourn the Death of Delfim Netto" - O Globo Online - RJ - 08/12/2024
Professor Aloisio Araujo was mentioned in the article: “Growth Is More Tied to Reforms Than to Fiscal Stimulus, Says Economist Aloisio Araujo” - Valor Econômico - RJ - 09/19/2024
Professor Aloisio Araujo gave an interview for the article: “Brazil Is Already Reaping the Benefits of Investing in Early Childhood Educatio - Valor Econômico - RJ - 12/03/2024
2025 - “‘Package Before Recess Is Welcome, but Additional Measures Are Needed,’ Says FGV Professor” - Estadão - 01/06/2025
2025 - “Central Bank Should Aim for the Upper Bound of the Inflation Target, Says Aloisio Araujo” - Valor Econômico - 01/28/2025