The paper investigates the demographic and socioeconomic determinants of aggregate savings rate of Brazilian families in the recent past. The main results are consistent with the predictions of the theory of the cycle of life/permanent income, properly extended to incorporate institutional and...

The Household Budget Survey from IBGE is the only source of microeconomic data on savings of Brazilian families. As this research has been carried out at intervals of at least five years, it is important to discuss and empirically assess whether the estimated models with latest lagged research...

Based on three versions of a small macroeconomic model for Brazil, this paper presents empirical evidence on the effects of parameter uncertainty on monetary policy rules and on the robustness of optimal and simple rules over different model specifications. By comparing the optimal policy rule...

Based on three versions of a small macroeconomic model for Brazil, this paper presents empirical evidence on the effects of parameter uncertainty on monetary policy rules and on the robustness of optimal and simple rules over different model specifications. By comparing the optimal policy rule...

We build a two-country version of the model in Gali & Monacelli (2005), which extends for a small open economy the new Keynesain DSGE model used as tool for monetary policy analysis in closed economies. A distinctive feature of the model is that the terms of trade enters directly into the new...

The paper investigates the demographic and socioeconomic determinants of aggregate savings rate of Brazilian families in the recent past. The main results are consistent with the predictions of the theory of the cycle of life/permanent income, properly extended to incorporate institutional and...