We use no arbitrage models with macro variables to study the interaction between the macroeconomy and the yield curve. This interaction is a key element for monetary policy and for forecasting. The model was used to analyze the Brazilian domestic financial market using a daily dataset and two...

This work is a pioneer effort to estimate supply and demand of automobiles in Brazil with a Discrete Choice model in a differentiated product oligopolistic market. We apply a Nested Logit model to the demand side and assume differentiated product price-setting firms on the supply side to...

Two facts have characterized the evolution of the informal sector in Brazil during the last two decades: the increase in the proportion of non-registered workers and the diminishing wage gap between non-registered and registered workers. In this paper, we briefly review the literature on...

When analyzing the demand for money in high inflation processes it has been suggested [Tourinho (1995)] that we should consider not only the effects of changes in the expected inflation rate but also changes in the expected variability of inflation. The model in Lima & Ehlers (1993) is extended...

A specification for the demand for money in economies where inflation is high and stochastic is presented. It uses a generalized functional form and includes the variance of the inflation rate as an explanatory variable, and is estimated for Brazil in the period 1974/94 under the assumption that...

This paper analyses the effects of the 1990 Brazilian trade liberalization on the total factor productivity, market share and profits of a sample of 349 large manufacturing firms. A panel data production function analysis for the period 1986/94 indicates very large total factor productivity...

This article brings empirical evidence for outsourcing debate in Brazil. This evidence is the result of a new methodology, which uses new microdata, recently released by the Ministry of Labour. With this methodology, it is possible to gather information about: i) 3,10 million employees with...

This paper presents new empirical evidence about the wage gap between union and nonunion workers in Brazil. In principle, due to the rules governing union organization/mobilization, no one should rationally expect such gap. However, as this paper reveals, there is empirical evidence of its...

This paper calculates effective tariffs by economic sector for Brazil from 2000 to 2015. The effective tariff differs from the nominal tariff in that it takes into consideration the protection given to inputs along the production chain. A sector whose products are protected by high tariffs may...

Earnings differential between white and black workers present a decreasing trend for younger cohorts in Brazil. We argue in this paper that the reduction in economic discrimination for younger cohorts could have played an important role on this result. Using the Brazilian National Household...