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central bank. The program (PROER) designed by the central bank and its legal framework allowed the failed bank to buy … “defaulted securities”, financed by the central bank, and to use them as borrowing collateral. The paper also analyses the … private and social costs of this bank failure. (Rev Econ Polit/GIGA) …
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This paper aims to examine the evolution of currency risk exposure of Brazilian corporations, especially exporting companies, from the 2008 crisis, when several companies suffered substantial losses due to the decline of the real. We analyze their financial based on the usage of derivatives, as...
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