This paper analyses the fiscal performance of São Paulo state municipalities, between the years of 1989 and 2001, considering the influence of two political factors: the electoral agenda and the different political party ideologies. Based on panel data econometric methods, specific components...

This paper has as objective to build a composite economic activity index for the local economy, created as form of measuring the economic activity. We use the factor analysis technique to determinate the components and their weights. This local index is then compared to national ones. As a...

This paper uses numerical methods to solve bank's cost minimization problem. Following Clouse and Dow (2002), we model bank's behavior using stochastic dynamic programming. We take account of institutional aspects of Brazilian regime that influence the bank's choice of reserves in the end of the...

This work presents a semi parametric approach to evaluate the role of the Central Bank reserve requirements, both remunerated and non-remunerated, over the bank interest rate distribution in Brazil between September/2000 and March/2004. We adopted the semi parametric approach developed by...

Inflation targeting and price-making in monetary economies: is it possible to conciliate growth with price stability? - Recently a number of countries have adopted explicit inflation targets as a guide for policy since a numerical target is attractive for anchoring inflation expectations....

Capital acumulation, capacity utilization and inflation: an analisys based in a non-linear post-keynesian macrodynamic model - The aim of this article is to analyze the effects of inflation on capital accumulation and on the degree of capacity utilization within the ambit of post Keynesian...

Monetary policy, inflation and economic growth: the influence of the monetary authority?s reputation upon the economy The following paper aims to show that, although a monetary policy, which merely seeks to control inflation through an interest rate rule (under inflation targeting), may reach...

Assessing the inflation targeting regime in Brazil- This paper is concerned with ?new? monetary policy, essentially what has come to be known as inflation targeting (IT). While the paper aims to examine this policy in the case of emerging countries, the focus is on Brazil and the application of...

Interaction between central banks and private sector occurs through communication between both parts. Accountability and influence on expectations are the two reasons because central banks communicate with markets. In fact, sometimes communicating objectives, targets and perceptions results in...

The aim of this paper is to analyze the performance of inflation targeting in Brazil and the role of prices controlled by the government and prices freely defined by the supply/demand system. We argue that the Brazilian inflation targeting regime has had some drawbacks, related to the...