This article applies multivariate analysis to measure the exchange market pressures in 20 countries, in the context of the Asian crisis of 1997/98. We develop an index of pressure on the exchange market as a weighted average of exchange rate changes, reserve changes and interest rates changes....

This article uses a crisis index based on an average of the variations in currency and financial crises indicators, referred to as “twin crises”, adjusting them to the same volatility. Thus, the objective is to measure the degree of vulnerability to twin crises within a group of 19 countries...

This paper uses the solution of the linear difference model under rational expectation of Blanchard and Kahn (1980) to test the validity of the inflation stickiness and the Rational Expectattion Hypotheses for the Brazilian economy during the period frm 06/95 to 09/02. Using the Fuhrer - Moore...

This paper compares cost efficiencies of Brazilian public and private companies of water supply. To measure efficiency a Cobb-Douglas stochastic cost frontier model including technical effects is estimated by maximum likelihood to a panel of Brazilian firms for the period 2002-2004. The...

This article investigates the degree of tolerance to higher inflation rates in the short run by the presidents of the Brazilian Central Bank in the period 2001-2012. We used monthly data and various specifications of the Taylor rule were estimated via GMM. In general, the results show the...

This paper aims to derive an optimal monetary policy rule in a context of fiscal disequilibrium and to empirically test whether Brazil presents active or passive fiscal and monetary policies. We analyze the transmission channels of the fiscal and monetary policies through estimation of a Philips...

This article investigates the long-run solvency of the Brazilian public debt and the short run dynamics of government revenues and expenditures for monthly data from Jan/1995 to July/2004. Seignorage is not considered as a source of revenue. The conclusion is that the public debt is not solvent....

This paper aims to investigate the impact of government debt on economic growth for a balanced panel of G7 countries over the period 1990-2008. We found empirical evidence that Ricardian Equivalence does not holds in general. The analysis indicates that only Germany shows a negative association...

This paper identifies and evaluates determinative common factors of currency and financial crisis in relation to 86 crises episodes between 1970‑2004, based on factor analysis, cluster and discriminant analysis. One evidenced that the rise of the ratios of domestic credit, fiscal deficit and...

This paper assesses cost efficiencies of Brazilian public and private companies of water supply. To measure the efficiency, we used a stochastic frontier model derived from the translog family – a specification similar to a Cobb-Douglas including a quadratic term in log output. The model...