One of the main concerns with youths is the nem-nems, which correspond to the group of youths that are not investing in their productive skills through the activities of either studying or working. This study analyzes data from National Household Sample Survey (Pesquisa Nacional por Amostra de...

Based on three versions of a small macroeconomic model for Brazil, this paper presents empirical evidence on the effects of parameter uncertainty on monetary policy rules and on the robustness of optimal and simple rules over different model specifications. By comparing the optimal policy rule...

Regulation in the sanitation sector in Brazil is facing a great deal of debate regarding the government level in which conceding authority should reside and how private operators can fulfill social objectives. The main objective of this study is to show that these issues are not the crucial...

The objective of our work is to study the term structure of interest rates and the sovereign credit spreads of emerging markets. We develop a model from term structure, credit risk and vector autoregressive models, based on the articles by Ang and Piazzesi (2003) and Ang, Dong and Piazzesi...

We use no arbitrage models with macro variables to study the interaction between the macroeconomy and the yield curve. This interaction is a key element for monetary policy and for forecasting. The model was used to analyze the Brazilian domestic financial market using a daily dataset and two...