Pedro Cavalcanti Ferreira is professor of the EPGE-FGV, Brazilian School of Economics and Finance, since 1993, CNPq 1B researcher and was president of the Brazilian Econometric Society in 2001-2002. He holds a PhD from the University of Pennsylvania. His research interests are Macroeconomics, Growth and Development, and has published extensively in national and international journals in these areas. Among his recent publications are "The Effect of Social Security, Demography, Health and Technology on Retirement", Review of Economic Dynamics (2013), and "On the Evolution of Total Factor Productivity in Latin America", in Economic Inquiry (2013). In 2012 he organized and edited the book "Economic Development: A Brazilian Perspective." He has worked as a consultant to the World Bank and the Brazilian government in areas such as infrastructure and growth, fiscal policy, productivity and long-term effects trade liberalization. Write a monthly column in the newspaper Valor Economico.