The theoretical and empirical international trade literature suggests that there is long-term valuation/devaluation of the real exchange rate in the developed/undeveloped economies. We argue that the real exchange rate is affected by: i) intercountry differentials of the services sector...

The theoretical and empirical international trade literature suggests that there is long-term valuation/devaluation of the real exchange rate in the developed/undeveloped economies. We argue that the real exchange rate is affected by: i) intercountry differentials of the services sector...

In this paper, the relationship between macroeconomic fundamentals and asset prices is explored by estimating the impact of macroeconomic announcements in the Brazilian futures market. Using intraday data from October 2008 to January 2011, results show that external macroeconomic announcements...

In this paper, the relationship between macroeconomic fundamentals and asset prices is explored by estimating the impact of macroeconomic announcements in the Brazilian futures market. Using intraday data from October 2008 to January 2011, results show that external macroeconomic announcements...

O trabalho analisou as inter-relações entre as taxas de juros domésticas (SELIC e SWAP DI-PR_E 360) e outras variáveis que teoricamente as afetam ou são afetadas por elas, como: o índice EMBI+, o câmbio, a inação e a razão DLSP/PIB. Além destas variáveis foram introduzidos na analise...

The objective of this paper is to analyze the role of fiscal policy in the determinants of the sovereign spreads of a group of 23 emerging market countries in the period 1995-2008 focusing on two matters: i) fiscal policy sustainability, known as the accumulation of primary budget surplus, that...

The objective of this paper is to analyze the role of fiscal policy in the determinants of the sovereign spreads of a group of 23 emerging market countries in the period 1995-2008 focusing on two matters: i) fiscal policy sustainability, known as the accumulation of primary budget surplus, that...

Portuguese Abstract: Entre fevereiro de 2016 e março de 2017, o risco soberano do Brasil (SCDS Brasil) apresentou significativa redução, saindo de 500 para 228 pontos-base. Utilizando uma regressão linear e aplicando um modelo econométrico de correção de erros, este estudo mostra...

By using the Minskyan approach of financial instability and the neo-schumpeterian approach to the relationship between the National System of Innovation (NSI) and economic competitiveness, a standard was obtained for growth cycles of economies whose NSI shows deficiencies when compared with the...

The present work aims to investigate the dynamic interactions between capital flows, public debt, country risk, interest rate differential and stock of foreign exchange in Brazil in the period 1995-2004. The vector autoregressive model (VAR) and the vector error correction model (VEC)...