This paper proposes a model to conduct macro stress test of credit risk for the banking system based on scenario analysis. We employ an original bank-level data set that splits bank credit portfolios in 21 granular categories, encompassing household and corporate loans. The results corroborate...

We employ a lab experiment to test whether subjects have overconfidence. We find evidence suggesting that: in general men have a larger degree of overconfidence, and that both age and experience have some influence in the degree of overconfidence

This paper tests the illusion of control in a lab experiment. We test the phenomena with undergraduate students and find little evidence of systematic differences due to gender. These results suggest that cultural differences may play a role and that generalization using lab experiments should...

Credit rating is an index for classifying credit risk that attributes scores based on investor trust and confidence in the company issuing bonds in the financial market. This article studies rating as signs of default (insolvency) in companies. Fitch Ratings was used due to the transparency of...

We empirically test the effects of anticipated and unanticipated monetary policy shocks on the growth rate of real industrial production and explicitly test for different types of asymmetries in monetary policy implementation for two major international economies, the U.S. and Brazil. We depart...