Portuguese Abstract: Apesar da sua diversidade, as dezoito personalidades evocadas, debaixo do mesmo título, nos Working Papers nº 612 and 613, influenciaram as actividades do Centro Globalização e Governação da Nova SBE (CG&G). Além disso, as perspetivas expressas são consistentes com a...

Portuguese Abstract: Descreve-se o ensino e a prática da macroeconomia em nove instituições, sete universitárias e dois gabinetes de estudos, tendo em conta que a revolução de 25 de Abril não só deu origem à entrada de novos atores mas também chocou os incumbentes. O método segue a...

This paper studies the credibility of the currency peg of Cape Verde (CV) by assessing the impact of economic fundamentals, our explanatory variables, on the stochastic properties of Exchange Market Pressure (EMP), the dependent variable, using EGARCH-M models. Our EMP descriptive analysis finds...

In this study, we assess the credibility of the currency board arrangement (CBA) of the Macau Special Administrative Region by studying the relationship between exchange market pressure (EMP) and the anchors of a rule-based CBA, namely, interest rate arbitrage, exchange rate arbitrage and...

This paper discusses the design of structural policies by relating second-best results and the complementarity of reforms. It computes a complementarity index based on structural reform indicators compiled by the EBRD for transition countries, assuming that the run-up to EU integration...

This paper discusses the design of structural policies by relating second-best results and the complementarity of reforms. It computes a complementarity index based on structural reform indicators compiled by the EBRD for transition countries, assuming that the run-up to EU integration...

For Portugal, the transition to the Euro began in September 1989 and featured three successive institutional arrangements related to the Exchange Rate Mechanism of the European Monetary System: shadowing it, belonging to it with 6% and then with 15% fluctuation bands. Using daily data, we study...

Portuguese Abstract: Divulga-se um esboço de Carta à Rainha Lusófona com menos de mil palavras, seguido de dois textos justificativos inseridos no projeto dito da Letter to Queen Lusophonia cuja sigla LQL serve para tornar percetível em inglês a diversidade da lusofonia no espaço e no...

Using a continuous-time finance-theoretic framework, this paper presents the optimal portfolio rule of an international investor who consumes N national composite goods and who holds N domestic-currency-denominated assets with known nominal interest rates in an environment where prices of goods,...

In the classic analysis of smuggling importers choose the optimal mix of legal and illegal trade, given trade taxes and the technology of detection. This paper introduces an inconvertible currency in the framework, so that illegal trade is valued at a rate higher than the (fixed) official...