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Default and interest rate shocks: Renegotiation matters
(Universidad Torcuato Di TellaRutgers University, Department of EconomicsUniversity of Minnesota, 2023)
We develop a sovereign default model with endogenous re-entry to financial markets via
debt renegotiation. We use this model to evaluate how shocks to risk-free interest rates trigger
default episodes through two channels: ...
Fiscal policy contradiction: a perspective on Brazil and Mexico
(Univ Nacional Autonoma Mexico, 2011-07-01)
The aim of this paper is to discuss the quality of fiscal policy in Brazil and Mexico and investigate whether fiscal policy influence is favorable to reduce the unemployment rate. Public spending, which has a positive ...
Fiscal policy contradiction: a perspective on Brazil and Mexico
(Univ Nacional Autonoma Mexico, 2011-07-01)
The aim of this paper is to discuss the quality of fiscal policy in Brazil and Mexico and investigate whether fiscal policy influence is favorable to reduce the unemployment rate. Public spending, which has a positive ...
Fiscal costs of monetary policy: indirect effects of an interest rate shock on Brazilian public net debt
(Editora 34, 2016-09-01)
The paper estimates the fiscal cost of an increase in the Brazilian policy interest rate - the SELIC - by considering not only the direct effect on the yield of public bonds that are indexed to the SELIC, but also indirect ...
An Empirical Econometric Model for the Mexican Target Rate and its application to determine the Interest Rate Curve
(Instituto Tecnológico y de Estudios Superiores de Monterrey, 2020)
The term structure of interest rates is an extremely important subject in Finance. The rates’ value influences the pricing of practically any asset, and it is also important to determine the value of several liabilities. ...
Determinants of sovereign risk from the perspective of rating agenciesDeterminantes do risco soberano pela ótica das agências de rating
(Lociedade Brasileira de Finanças, 2022)