The impacts of the exploration and production of large oil and gas reserves in a national economy are controversial. Several countries have shown a lack of capacity to develop based on these resources, while others achieve success. One important part of this equation are the local content rules...

This paper tries do motivate the discussion of evaluation problems in the context of social programs. Initially, the text explores the point of view that social programs should be recognized as complex organizations. In the case, there are multiple objectives, decentralization, and coordination...

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 aims to show that the fiscal and monetary counter-cyclical actions implemented by Brazilian government after the financial crisis were frugal: the monetary policy was late and slowly slackened and the fiscal policy sustain a primary surplus budget, in the opposite direction of much...

This paper attempts to extend empirical investigations about the asymmetric effects of monetary shocks in the Brazilian economy. We specify and estimate a nonlinear smooth transition vector autoregressive model including output, price level, exchange rate and a monetary policy indicator (Selic...