The Republic of Mozambique is experiencing a significant social and economic change and needs an updated informative base to allow policy-makers to found their decision on reliable and comparable data. The fast development of the Non Observed Economy (NOE) was one of the most important...

In this article, we analyze the efficiency of Brazilian local legislative branches using the nonparametric estimator FDH (Free Disposal Hull). At the regional level, the results show high concentration of local legislative branches in the south. In addition, among the inefficient local...

In this article, we analyze the efficiency of Brazilian local legislative branches using the nonparametric estimator FDH (Free Disposal Hull). At the regional level, the results show high concentration of local legislative branches in the south. In addition, among the inefficient local...

We study model selection strategies based on penalized empirical loss minimization. We point out a tight relationship between error estimation and data-based complexity penalization: any good error estimate may be converted into a data-based penalty function and the performance of the estimate...

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:...

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...

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:...

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 we discuss the actual and civilizational role of the state and its management. The MBO and the same OECD accounts-financial models are not recommended.With an comparative analysis we conclude for the necessity of a more organics and strategic models of governance and not...