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...

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...

This study aims to show that during the cycle of credit expansion occurred in the Brazilian economy between 2003 and 2010, public banks had acted with a degree of liquidity preference higher than that of private banks until the international financial crisis. The need to achieve economic and...

This study aims to show that during the cycle of credit expansion occurred in the Brazilian economy between 2003 and 2010, public banks had acted with a degree of liquidity preference higher than that of private banks until the international financial crisis. The need to achieve economic and...

This paper shows estimates of the optimal level of foreign reserves for Brazil between the first quarter of 2004 and the third trimester of 2012, by applying the new Jeanne e Rancière (2011) framework, using different scenarios. The estimates of the optimal holdings of this asset are calculated...