We apply and test term structure fitting models like polynomial splines, flat forward and Nelson-Siegel to the Brazilian local term structure. They are models used all over the world by authorities and financial markets practitioners but less known locally. These models were tested with a large...

The management of Brazil's public debt imposes a high fiscal cost due to the burden of interest payments. A key factor contributing to the substantial cost of servicing public debt, which hinders the balance of public accounts, is the structurally high nominal and real basic interest rates. The...

The management of Brazil's public debt imposes a high fiscal cost due to the burden of interest payments. A key factor contributing to the substantial cost of servicing public debt, which hinders the balance of public accounts, is the structurally high nominal and real basic interest rates. The...

This article verifies the occurrence of a real estate bubble in the Brazilian economy. Overall, our results suggest the existence of a bubble in the real estate sector of the economy. The Austrian School of economics provides a solid explanation to this phenomenon, which are reinforced by...

The goal of this article is to estimate the New Keynesian Phillips Curve for Brazilian economy. Due to some specifications problems in regressions estimated by IV method, the GMM-HAC methodology was used in order to address them. We noted the robustness of the results performing a detailed...

The evaluation of forecasts performance of market expectations about the Brazilian inflation rate (Focus survey) is important given the prominent role of these expectations in the conduction of monetary policy in Brazil. Lima e Céspedes (2006) showed that, in the period 2000.1 2005.4, several...

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 aims to discuss the determinants of Brazilian inflation measured by the Extended National Consumer Price Index (IPCA) from 2000 to 2009. We built 22 disaggregated series, the segments classification, crossing the classification in tradeables/non-tradeables/monitored prices with the...

This paper presents estimates for Brazilian inflation during the 2000s. The results of a structural model with two endogenous variables - wage inflation and consumer inflation - indicate that: i) the demand indicator was not statistically significant in the consumer inflation, but it was...