A vegetação de caatinga, usada para produção de lenha e carvão, resulta em renda para as famílias rurais da região Nordeste. O Ibama cogitou o cancelamento da isenção de taxa de vistoria aos produtores de carvão com plano de manejo florestal. O modelo principal-agente desenvolvido...

This work has as objective to analyze the supposed existing positive relation between financial development and economic growth. The financial system influences the economic growth due to the functions that it plays, such as: ) the mobilization of resources; b) allocation of the resources in the...

In this paper we compare the costs of two regulatory policies about the entry of new firms. We consider an incumbent firm that has more information about the market demand than the regulator. Then, the incumbent firm can use this advantage to persuade the regulator to make entry more difficult....

We consider a leader and a subordinate he appoints who engage in team production. The public observes the organization’s performance, but is unable to determine the separate contributions of the leader and of the subordinate. The leader may therefore claim credit for the good work of his...

A partir da concepção mais ampla de moeda discutida por Stiglitz e Weiss (1981) e de Meza (1987), desenvolvendo os aspectos microeconômicos do problema de racionamento de crédito e levando em consideração as reformas estruturais no Sistema de Pagamentos Brasileiro (SPB), bem como formas de...

This study aims to analyse the demand for credit in Brazilian market for vehicles. Based on the Markov Switching model to dealing with regime change, we estimate a demand function using aggregated monthly data from Oct./2000 to Dec./2012. The results showed that the demand for credit was subject...

This paper analyzes the Brazilian case, the transient conditions of employment levels and income distribution in the country, using micro data from the Monthly Employment Survey (PME) produced by the Brazilian Institute of Geography and Statistics (IBGE) to assess the effects of macroeconomic...

Switching model, we estimate the demand for mortgage using aggregate monthly data from January 2003 to September 2012. The results show that this variable has been subject to cycles of contraction and expansion since 2003. The boom starts at the end of 2005 is marked by the alternation of two...

This study aims to analyze price discovery in the foreign exchange market in Brazil and indicate which market (spot or futures) adjusts more quickly to the arrival of new information. Using high frequency data from January/2008 to June/2013, we estimate the following price discovery metrics:...

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...