The current exchange rate policy is being argued about its vulnerability, especially at presence of an adverse external situation. In this context, it is important to check how market faces the credibility of such policy. This paper provides a way of measuring this credibility, using market's...

Petroleum exploration in Brazil is performed throughout a bidding process coordinated by the National Petroleum Agency (NPA), where the exploration and production (E&P) firms need to evaluate concessions performing financial and economic analyses routinely. Since oil is a public resource with...