The paper discusses the role of air cargo as a competitive instrument for Brazilian manufacture, examining foreign trade data broken down by chapters of the Harmonized System (HS), and comparing the share of air cargo with other economies. The analysis was performed in two steps. The first...

We analyze the effect of taxes and government spending on quarterly market returns of stocks, government bonds, and corporate bonds. In US data from 1960 to 2000, a one standard deviation increase in the share of tax receipts in GDP has a statistically and economically significant effect on...

This paper undertakes an empirical assessment of Dollarization versus regional currency union as options for the economies of East Asia, South America and Central America. We use summary indicators of bilateral integration to examine the determinants of real exchange rate volatility within each...

In this paper we provide, for the first time, empirical estimates of the effect of indicators of bilateral economic integration on the correlation of real stock returns between economies. We concentrate on the role of bilateral real exchange rate volatility, bilateral trade intensity,...