Extreme inequality in Brazil is self-evident. The historian José Murilo de Carvalho emblematically chose to end his book on the history of citizenship in Brazil with the severe diagnosis that 'inequality is the slavery of today, the new cancer that hinders the constitution of a democratic...

This working paper analyzes paid and unpaid work-time inequalities among Bolivian urban adults using time use data from a 2001 household survey. We identified a gender-based division of labor characterized not so much by who does what type of work but by how much work of each type they do. There...

We propose a methodology to conciliate the distributions of incomes of Census 2010 and of DIRPF 2010 (personal income tax reports). Applying this methodology, we decompose inequality by classes, regions and sex, race and age groups. We use annualized incomes and detailed educational information...

Brazilian Foreign Exchange (FX) markets have a unique structure: most trades are conducted in the derivatives (futures) market. We study price discovery in the FX markets in Brazil and indicate which market (spot or futures) adjusts more quickly to the arrival of new information. We find that...

The estimation of the impact of macroeconomic announcements in the Brazilian futuresmarkets is used to uncover the relationship between macroeconomic fundamentals andasset prices. Using intraday data from October 2008 to January 2011, we find thatexternal macroeconomic announcements dominate...

A model of realized variance-covariance is proposed using a portfolio with the most liquid stockassets of Ibovespa. The purpose is to evaluate the economic gains associated with following avolatility timing strategy based on the model’s conditional forecasts. Comparing with...

This working paper analyzes paid and unpaid work-time inequalities among Bolivian urban adults using time use data from a 2001 household survey. We identified a gender-based division of labor characterized not so much by who does what type of work but by how much work of each type they do. There...