This work aims to analyze if the trajectory and composition of net and gross, public debt and external liabilities can hinder the growth of Brazilian GDP. The work concludes that fiscal indicators are more comfortable that external indicators. The net public debt is falling and less linked to...

We use macro finance models to study the interaction between macro variables and the Brazilian sovereign yield curve using daily data. We calculate the model implied default probabilities and a measure of the impact of macro shocks on the probabilities. An extension of the Dai-Singleton...

This paper studies the medium run prospects--that is, up to 2003--for Brazilian foreign indebtedness based on an analytical framework that calculates the current account balance required to stabilize the ratio foreign liabilities/exports. We show that, in the absence of a real exchange rate...