This paper examines the empirical relationship between the movement of the slope factor in term structure of nominal interest rates and exogenous monetary-policy shocks in the U.S. after 1982. Using first a six-variable VAR model and then a GMM estimation model of the "Taylor rule," I estimate...

Besides the introduction and the final conclusions, this Discussion Paper has four sections. The first presents the "state of art", that is, the current debate about the long-term financing of the neo-corporatist state capitalism in Brazil. Then it shows the personal and corporate wealth as...