Financial constraints on Brazilian firms are very high compared to advanced economies. In Brazil, 59% of firms have access to a bank loan or a credit line. In developed countries, the average percentage is 95%. Loan collateral requirements are much higher in Brazil (95% of the loan value) than...

Financial constraints on Brazilian firms are very high compared to advanced economies. In Brazil, 59% of firms have access to a bank loan or a credit line. In developed countries, the average percentage is 95%. Loan collateral requirements are much higher in Brazil (95% of the loan value) than...

This study aims to analyse the demand for credit in Brazilian market for vehicles. Based on the Markov Switching model to dealing with regime change, we estimate a demand function using aggregated monthly data from Oct./2000 to Dec./2012. The results showed that the demand for credit was subject...

This paper estimates the Brazilian NAILO (Nonaccelerating Inflation Level of Output), obtains (Bayesian) probability bands for the Nailo and for its growth rate, and investigates the relationship between deviations of output with respect to the Nailo and the acceleration of inflation. As...

This paper estimates the Brazilian NAILO (Nonaccelerating Inflation Level of Output), obtains (Bayesian) probability bands for the Nailo and for its growth rate, and investigates the relationship between deviations of output with respect to the Nailo and the acceleration of inflation. As...

This study aims to analyse the demand for credit in Brazilian market for vehicles. Based on the Markov Switching model to dealing with regime change, we estimate a demand function using aggregated monthly data from Oct./2000 to Dec./2012. The results showed that the demand for credit was subject...