The study presents a macro-finance model to analyze the impacts of a fiscal policy shock in the Brazilian term structure of interest rate in the period 1999-2010. Fiscal policy explains a higher proportion of the long-term interest rate variance (25% of the five years rate) comparing to the...

This paper presents a summarized picture of the Brazilian Social Insurance System, both in terms of the system that cover workers in private sector - Regime Geral de Previdência Social (RGPS) (General Regime for Social Security) - and in terms of the various systems that cover public servants...

The base for proposals of social security policies is being able to measure the combined impact on social security of this policy itself (the endogenous variable) and the exogenous variables: demographic, macroeconomic and labor market. In a pay-as-you-go as system the Brazilian one, besides the...