De jure and de facto independence of the central bank from fiscal authority. Per D.1.5 scope, one of the framework's defensible monetary positions.
General government spending as share of GDP, excluding transfers already captured under fiscal.transfer_expansion to avoid double-counting.
Product-market regulation, entry barriers, licensing burdens, network-industry regulation, price controls.
Trade policy openness — tariffs, non-tariff barriers, FTAs, industrial protection.
On 1 July 1994, Provisional Measure 542 introduced the new currency, the real, replacing the cruzeiro real at a 1:2750 ratio after the URV indexation phase. The real was launched with a quasi-pegged band against the US dollar, a sharp tightening of monetary policy, and high real interest rates, ending the chronic hyperinflation of the prior decade. The currency switch was the operational centerpiece of finance minister Cardoso's stabilisation programme.
Per invariant 3, reforms are scored by what they did on each channel-separated axis, not by the party that enacted them. This fingerprint is how the policy-match engine finds historical analogues.
Explicit links are curated by the author. Inferred links are hypotheses in the library that test the same axes this policy moved — the framework's answer to "what does the data say about a policy like this?".
Ranked by axis-fingerprint overlap with this policy. Direction match bolded — those are the closest historical analogues. Shape of the match is what drives policy-outcome comparison, not the country or party label.