8 research outputs found
CAN JURISDICTIONAL UNCERTAINTY AND CAPITAL CONTROLS EXPLAIN THE HIGH LEVEL OF REAL INTEREST RATES IN BRAZIL? EVIDENCE FROM PANEL DATA
- Publication venue
- Publication date
- Field of study
The phenomenon of high and persistent short-term real interest rates in Brazil has stimulated an extensive literature attempting to explain its causes. Among the various contributions on the topic, one that has received considerable attention is the article by Arida, Bacha, and Lara-Resende (2004) (henceforth, ABL), which argues that risks associated with the jurisdiction and currency inconvertibility are relevant determinants of the level of short-term real interest rates. In the present paper, we formulate a methodology based on ABL's definition of jurisdiction uncertainty, use a set of institutional variables that proxy the degree of jurisdictional uncertainty, build an index of currency inconvertibility based on capital controls and use them to test ABL's conjecture and variants of it. The results are by and large unfavorable not only to ABL's conjecture, but also to variants of their argument. The results further indicate that traditional monetary and fiscal factors are far more relevant to explain the level of short-term real interest rates than the binomial jurisdictional uncertainty/ currency inconvertibility is.
Inflation and Income Inequality: A Link Through the Job-Search Process
- Author
- . A Souza
- A Fernando
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A Model Of Mixed Signals With Applications To Countersignaling An The Ged -Aloisio Araujo
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- Andrei Spacov -Fevereiro De
- As A Redistributive Device -Daniel Banning Information
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- C Paulo
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Christina D Romer
- Common
- Cyclical Interest
- Daniel Gottlieb
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- Dois Experimentos De Pol�tica Monet�ria NO
- E Cardoso
- E Cardoso
- Efeitos Macroecon�micos E Custos Sociais De Uma Transi��o Entre Regimes De Previd�ncia No Brasil -Leonardo Pio Perez
- Endogenous Collateral -Alo�sio Ara�jo
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- Humberto Moreira
- Humberto Moreira
- Imposto Inflacion�rio E Transfer�ncias
- Infla��o: In�rcia E D�ficit
- J Lucas
- John Mccall
- Jos� Fajardo Barbachan
- Lucas Maestrijulho De
- M Simonsen
- Mario R P�scoa -Novembro De
- Monetary
- Money
- N L Stokey
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- Optimal Auctions
- Output
- Paulo Klinger Monteiro
- Principais Caracter�sticas Do Consumo De Dur�veis No Brasil E Testes De Separabilidade Entre Dur�veis E N�o-Dur�veis -F�bio Augusto Reis Gomes
- Purchasing Power
- R P Cysne
- Rachel Couto Ferreira
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Renato G Fl�res
- Renato Luiz
- Robustness Of Stationary Tests Under Long-Memory Alternatives -Luiz Renato Lima
- Rubens P Cysne
- Rubens Penha Cysne
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Should
- Silva Giovanini -Dezembro Fabiano Da
- Testing Unit Root
- The
- The Risk-Properties
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- Two
- Vari�veis Intrumentais E O Mgm: Uso
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2014
- Field of study
On the Statistical Estimation of Diffusion Processes - A Survey
- Author
- A Experi�ncia De Crescimento Das Economias De Mercado
- A Family Of Autoregressive Conditional Duration Models -Marcelo Fernandes
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A J Dorogovcev
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- A Note On Chambers&apos
- A R Pedersen
- A R Pedersen
- Andrei Spacov -Fevereiro De
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- B M Bibby
- B Oksendal
- C Paulo
- Capitais Internacionais: Complementares Ou Substitutos? -Carlos Hamilton
- Carlos Viana De Carvalho -Outubro De
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Choice Of Technique In The Robinson-Solow-Srinivasan Model -M. Ali Khan -Setembro On
- Christian Gourieroux
- D Dacunha-Castelle
- D Dacunha-Castelle
- D Florens-Zmirou
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- E Normality Under Uncertainty -Carlos Eug�nio
- E Redistribution With Unobserved &apos
- E Wong
- Elasticity Of
- Endogenous Collateral -Alo�sio Ara�jo
- Endogenous Time-Dependent Rules And The Costs Of Disinflation With Imperfect Credibility -Marco Bonomo
- Ensaios
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- F Black
- Forecasting Electricity Load
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- H Sorensen
- Humberto Moreira
- Humberto Moreira
- I Karatzas
- I V Basawa
- Imposto Inflacion�rio E Transfer�ncias
- Incapacidade E A Infla��o Do N�mero De Pessoas Com Defici�ncia -Marcelo Idade
- Infla��o: In�rcia E D�ficit
- J Cox
- J Y Campbell
- Joachim Grammig -Setembro De
- Jos� Fajardo Barbachan
- L P Hansen
- L P Hansen
- M Kessler
- M Kessler
- M Sorensen
- Mario R P�scoa -Novembro De
- N Stokey
- N Yoshida
- N Z Krylov
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- Nonparametric Specification
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- O Vasicek
- Optimal
- Optimal Auctions
- Output
- P Billingsley
- P E Kloeden
- P E Kloeden
- P R Krugman
- Paulo Klinger Monteiro
- Pessoa Silvia Matos
- Prakasa Rao
- Prakasa Rao
- Prakasa Rao
- Production Functions Used In Empirical Growth Studies -Pedro Cavalcanti Testing
- Rachel Couto Ferreira
- Real Exchange
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Renato Luiz
- Risk
- Rubens Penha Cysne
- S Karlin
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Should
- Silva Giovanini -Dezembro Fabiano Da
- Testing Unit Root
- The
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- V P Godambe
- Vari�veis Intrumentais E O Mgm: Uso
- Wagner Soares
- Y Ait-Sahalia
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2014
- Field of study
Income Inequality: The Role of Impatience in a Job-Search Process
- Author
- A Fernando
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A Model Of Mixed Signals With Applications To Countersignaling An The Ged -Aloisio Araujo
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- Andrei Spacov -Fevereiro De
- As A Redistributive Device -Daniel Banning Information
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- C Paulo
- C Pissarides
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Common
- Cyclical Interest
- Daniel Gottlieb
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- Dois Experimentos De Pol�tica Monet�ria NO
- Efeitos Macroecon�micos E Custos Sociais De Uma Transi��o Entre Regimes De Previd�ncia No Brasil -Leonardo Pio Perez
- Endogenous Collateral -Alo�sio Ara�jo
- Ensaios
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- Humberto Moreira
- Humberto Moreira
- Imposto Inflacion�rio E Transfer�ncias
- Infla��o: In�rcia E D�ficit
- J Lucas
- John Mccall
- Jos� Fajardo Barbachan
- Lucas Maestrijulho De
- Mario R P�scoa -Novembro De
- Monetary
- Money
- N L Stokey
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- Optimal Auctions
- Output
- Paulo Klinger Monteiro
- Principais Caracter�sticas Do Consumo De Dur�veis No Brasil E Testes De Separabilidade Entre Dur�veis E N�o-Dur�veis -F�bio Augusto Reis Gomes
- Purchasing Power
- Rachel Couto Ferreira
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Renato G Fl�res
- Renato Luiz
- Robustness Of Stationary Tests Under Long-Memory Alternatives -Luiz Renato Lima
- Rubens Cysne
- Rubens Penha Cysne
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Silva Giovanini -Dezembro Fabiano Da
- Testing Unit Root
- The
- The Risk-Properties
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- Two
- Vari�veis Intrumentais E O Mgm: Uso
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2004
- Field of study
A Search-Theoretic Explanation for the Negative Correlation between Labor Income and Impatience
- Author
- A Fernando
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A Model Of Mixed Signals With Applications To Countersignaling An The Ged -Aloisio Araujo
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- Andrei Spacov -Fevereiro De
- As A Redistributive Device -Daniel Banning Information
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- C Paulo
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Common
- Cyclical Interest
- Daniel Gottlieb
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- Dois Experimentos De Pol�tica Monet�ria NO
- E C Lawrance
- Efeitos Macroecon�micos E Custos Sociais De Uma Transi��o Entre Regimes De Previd�ncia No Brasil -Leonardo Pio Perez
- Endogenous Collateral -Alo�sio Ara�jo
- Ensaios
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- Humberto Moreira
- Humberto Moreira
- Imposto Inflacion�rio E Transfer�ncias
- Infla��o: In�rcia E D�ficit
- J Lucas
- John Mccall
- Jos� Fajardo Barbachan
- Lucas Maestrijulho De
- Mario R P�scoa -Novembro De
- Monetary
- Money
- N L Stokey
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- Optimal Auctions
- Output
- Paulo Klinger Monteiro
- Principais Caracter�sticas Do Consumo De Dur�veis No Brasil E Testes De Separabilidade Entre Dur�veis E N�o-Dur�veis -F�bio Augusto Reis Gomes
- Purchasing Power
- Rachel Couto Ferreira
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Renato G Fl�res
- Renato Luiz
- Robustness Of Stationary Tests Under Long-Memory Alternatives -Luiz Renato Lima
- Rubens P
- Rubens Penha Cysne
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Should
- Silva Giovanini -Dezembro Fabiano Da
- T Ferguson
- Testing Unit Root
- The
- The Risk-Properties
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- Two
- Vari�veis Intrumentais E O Mgm: Uso
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2004
- Field of study
Two Additions to Lucas's 'Inflation and Welfare'
- Author
- A Experi�ncia De Crescimento Das Economias De Mercado
- A Family Of Autoregressive Conditional Duration Models -Marcelo Fernandes
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- A Note On Chambers&apos
- A Seierstad
- Andrei Spacov -Fevereiro De
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- C Paulo
- Capitais Internacionais: Complementares Ou Substitutos? -Carlos Hamilton
- Carlos Viana De Carvalho -Outubro De
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Choice Of Technique In The Robinson-Solow-Srinivasan Model -M. Ali Khan -Setembro On
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- E A Coddington
- E Normality Under Uncertainty -Carlos Eug�nio
- E Redistribution With Unobserved &apos
- Endogenous Collateral -Alo�sio Ara�jo
- Endogenous Time-Dependent Rules And The Costs Of Disinflation With Imperfect Credibility -Marco Bonomo
- Ensaios
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- Humberto Moreira
- Humberto Moreira
- Imposto Inflacion�rio E Transfer�ncias
- Infla��o: In�rcia E D�ficit
- Joachim Grammig -Setembro De
- Jos� Fajardo Barbachan
- K Arrow
- K J Arrow
- L S Pontryagin
- Mario H Simonsen
- Mario R P�scoa -Novembro De
- Martin J Bailey
- Monetary
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- Nonparametric Specification
- O L Mangasarian
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- Optimal
- Optimal Auctions
- Output
- Paulo Klinger Monteiro
- Production Functions Used In Empirical Growth Studies -Pedro Cavalcanti Testing
- R E Lucas
- Rachel Couto Ferreira
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Renato G Fl�res
- Renato Luiz
- Risk
- Robustness Of Stationary Tests Under Long-Memory Alternatives -Luiz Renato Lima
- Rubens Penha Cysne
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Should
- Silva Giovanini -Dezembro Fabiano Da
- Testing Unit Root
- The
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- Two
- Vari�veis Intrumentais E O Mgm: Uso
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2004
- Field of study
Income Inequality in a Job-Search Model with Heterogeneous Time Preferences
- Author
- A Experi�ncia De Crescimento Das Economias De Mercado
- A Family Of Autoregressive Conditional Duration Models -Marcelo Fernandes
- A In�rcia Da Taxa De Juros Na Pol�tica Monet�ria -Fernando De Holanda Barbosa
- A New Perspective On The Ppp Hypothesis -Soyoung Kim
- A Note On Chambers&apos
- Andrei Spacov -Fevereiro De
- Avaliando Pesquisadores E Departamentos De Economia No Brasil A Partir De Cita��es Internacionais -Jo�o Victor Issler
- C Paulo
- C Pissarides
- Capitais Internacionais: Complementares Ou Substitutos? -Carlos Hamilton
- Carlos Viana De Carvalho -Outubro De
- Central Limit Theorem For Asymmetric Kernel Functionals -Marcelo Fernandes
- Choice Of Technique In The Robinson-Solow-Srinivasan Model -M. Ali Khan -Setembro On
- Convex Combinations
- Debt
- Desenho De Um Sistema De Metas Sociais -Marcelo C�rtes N�ri
- Do
- E C Lawrance
- E Normality Under Uncertainty -Carlos Eug�nio
- E Redistribution With Unobserved &apos
- Elasticity Of
- Endogenous Collateral -Alo�sio Ara�jo
- Endogenous Time-Dependent Rules And The Costs Of Disinflation With Imperfect Credibility -Marco Bonomo
- Ensaios
- Equilibria In Security Markets With A Continuum Of Agents -A F Araujo
- Forecasting Electricity Load
- G Pyatt
- Garantias E Acesso � Cr�dito -Marcelo C�rtes Empres�rios Nanicos
- H Marcos
- H Marcos
- Humberto Moreira
- Humberto Moreira
- Imposto Inflacion�rio E Transfer�ncias
- Incapacidade E A Infla��o Do N�mero De Pessoas Com Defici�ncia -Marcelo Idade
- Infla��o: In�rcia E D�ficit
- Joachim Grammig -Setembro De
- John Mccall
- Jos� Fajardo Barbachan
- Mario R P�scoa -Novembro De
- N L Stokey
- Non-Monotone Insurance Contracts And Their Empirical Consequencesalo�sio Araujo
- Nonparametric Specification
- O M�todo
- O Valor Da Moeda E A Teoria Dos Pre�os Dos Ativos -Fernando De Holanda Barbosa
- Optimal
- Optimal Auctions
- Output
- Paulo Klinger Monteiro
- Pessoa Silvia Matos
- Production Functions Used In Empirical Growth Studies -Pedro Cavalcanti Testing
- Rachel Couto Ferreira
- Real Exchange
- Regional Or Educational Disparities? A Counterfactual Exercise -Angelo Jos� Mont&apos
- Reinaldo C Souza
- Renato Luiz
- Risk
- Rubens Penha Cysne
- S Yao
- Shocks Permanently Change Output? Local Persistency In Economic Time Series -Luiz Renato Do
- Should
- Silva Giovanini -Dezembro Fabiano Da
- Testing Unit Root
- The
- The Set Of Equilibria Of First-Price Auctions -Paulo Klinger Monteiro
- The Trade-Off
- Trade
- Trade
- Vari�veis Intrumentais E O Mgm: Uso
- Wagner Soares
- Publication venue
- 'Elsevier BV'
- Publication date
- 01/01/2004
- Field of study