This paper aims at analyzing the relationship between capital account liberalization,economic performance and macroeconomic stability in Brazil. For this purpose,besides a revision in the literature, the paper develops an empirical study on the effects of financial liberalization in Brazil on a...

This paper aims to shed light on the dynamics of Brazilian services inflation in the 1999-2014 years. In order to do that, it first identifies all disaggregated components of the Brazilian consumer price index (IPCA) that can be characterized as services. These components are then translated...

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 deals with the role of the public debt on the transmission mechanism of monetary policy. An IS function where the Ricardian Equivalence does not prevail and Phillips curve are estimated by full information maximum likelihood (FIML), General Method of Moments (GMM) and bootstrap...

The aim of this paper is to study the effects of public debt management on yield curve spreads in Brazil, in order to see possible impacts on the country's economic activity. State space models, together with Kalman Filter estimators, are used for the period ranging from June 2002 to February...

The purpose of this paper is to examine inflation targeting (IT) in emerging countries by concentrating essentially on the case of Brazil. The IT monetary policy regime has been adopted by a significant number of countries. While the focus of this paper is on Brazil, which began inflation...

This paper aims at analysing the determinants of the recent wave of European banks to Brazil under the context of the recent phase of banking internationalisation. In its first part, it analyses the process of banking internationalisation from both analytical and historical approach. Focusing on...

This paper seeks to fill a gap in the literature on frontier market economies (FMEs) with the following two research questions: (i) Which are the drivers of FMEs' integration into financial globalisation? (ii) What explains the greater vulnerability of FMEs compared to emerging market economies...

First paragraph: In a paper presented at the 8th Annual Conference of the Brazilian Society for Political Economy, in June 2003, Victoria Chick (2004: 3) wrote: »There are many pleasures attached to being in Brazil, but one of the chief intellectual pleasures is that Brazil is still a centre of...

In this paper, we develop a Keynesian–structuralist perspective on the origins and implications of the currency hierarchy in the international monetary and financial system. We show that international asymmetry in monetary affairs results in structural implications for peripheral economies....