The purpose of this paper is to analyze the main features in the conduct of monetary policy in Brazil. Initially, we focus on the inflation targeting regime, reviewing the background that led to its adoption in mid-1999, the institutional framework implemented in the country, and the challenges...

There is a broad literature documenting the recent trend towards a larger foreign banking presence in both mature and emerging markets. Less documented are the few situations where banking internationalization has contracted. Brazil is one such case. After a large-scale entry in the late 90s,...

In July 1999, Brazil implemented a formal inflation-targeting framework for monetary policy, less than six months after moving to a floating exchange rate regime. This work evaluates the initial years of the Brazilian experience with inflation-targeting. During the period the inflation rate...

This paper aims to contribute to the understanding of factors that affect the net inflow of savings deposits. To achieve this goal, the paper presents the impact of regulatory changes, which have occurred in the period from March 2003 to November 2011, had in attracting savings, uses...

This work examines the determinants of the capital structure of Brazilian companies between the years 2000 and 2009. Based on quantile regression model and on the comparison with conventional models (least squares and fixed effects), the work provides better understanding of capital structure to...

This paper has estimated the DSGE model proposed by Smets and Wouters (2007) for the Brazilian economy, using Bayesian techniques, aiming at analyzing the recent performance of the inflation targeting monetary policy. It was obtained estimates of barely known structural parameters and the...