This paper aims to evaluate how public debt management in Brazil has affected its sustainability in the 1996-2007 period. In 2003 Brazilian public debt management changed the trade off between cost minimization and risk minimization emphasizing the first element. Using a Markov-Switching model...

This paper aims to evaluate how public debt management in Brazil has affected its sustainability in the 1996-2007 period. In 2003 Brazilian public debt management changed the trade off between cost minimization and risk minimization emphasizing the first element. Using a Markov-Switching model...

Este artigo tem por objetivo avaliar como a administração da dívida pública no Brasil afetou a sua sustentabilidade no período 1996-2007. A partir de 2003 o gerenciamento da dívida brasileira buscou alterar a combinação entre custo e risco,privilegiando o primeiro. Ao utilizar modelos...