✦ LIBER ✦

Public debt indexation and denomination, the case of Brazil: a comment

✍ Scribed by Rubens Penha Cysne

Publisher: John Wiley and Sons
Year: 2007
Tongue: English
Weight: 133 KB
Volume: 12
Category: Article
ISSN: 1076-9307
DOI: 10.1002/ijfe.334

No coin nor oath required. For personal study only.

✦ Synopsis

Abstract

In this work I analyse the model proposed by Goldfajn to study the choice of the denomination of the public debt. The main purpose of the analysis is to point out possible reasons why new empirical evidence provided by Bevilacqua et al., regarding a more recent time period, gives less empirical support to the model. I also provide a measure of the overestimation of welfare gains from hedging the debt caused by the simplified time frame of Goldfajn's model. Assuming a time‐preference parameter of 0.9, for instance, consumption gains associated with a hedge to the debt that reduces by half a one‐time 20%‐of‐GDP shock to government spending run around 1.43% under the no‐tax‐smoothing structure of the model. Under a Ramsey allocation, though, consumption increases by just 0.05%. Copyright © 2007 John Wiley & Sons, Ltd.

📜 SIMILAR VOLUMES

Public debt indexation and denomination:

Public debt indexation and denomination: the case of Brazil

✍ Ilan Goldfajn 📂 Article 📅 2000 🏛 John Wiley and Sons 🌐 English ⚖ 213 KB 👁 2 views

Environmental reporting and transport –

Environmental reporting and transport – the case of a public transport company

✍ Otto Andersen 📂 Article 📅 2003 🏛 John Wiley and Sons 🌐 English ⚖ 131 KB 👁 1 views

## Abstract This article discusses corporate environmental reporting in the field of transport. In addition to addressing this issue in general, the article includes empirical material from a case transport company. The process of preparing the year 2000 environmental report for the company is desc

Information, analysis, and ideology: A c

Information, analysis, and ideology: A case study of science and the public interest

✍ John M. Budd 📂 Article 📅 2007 🏛 John Wiley and Sons 🌐 English ⚖ 218 KB 👁 2 views

## Abstract The politicization of science is not a new phenomenon, but the disputes surrounding global climate change have been particularly subject to ideological positioning. The work conducted by researchers on the description of, and possible causes for, climate change is reflected in the forma

Pitfalls of debt reduction: a counterfac

Pitfalls of debt reduction: a counterfactual case study of Zambia during the early 1990s

✍ James Copestake; Phillip Weston 📂 Article 📅 2000 🏛 John Wiley and Sons 🌐 English ⚖ 100 KB 👁 1 views

Racism in organizations: The case of a c

Racism in organizations: The case of a county public health department

✍ Derek M. Griffith; Erica L. Childs; Eugenia Eng; Vanessa Jeffries 📂 Article 📅 2007 🏛 John Wiley and Sons 🌐 English ⚖ 148 KB

## Abstract Racism is part of the foundation of U.S. society and institutions, yet few studies in community psychology or organizational studies have examined how racism affects organizations. This paper proposes a conceptual framework of institutional racism, which describes how, in spite of prof

The conception of administrators regardi

The conception of administrators regarding the formation of a healthcare consortium in Pernambuco, Brazil: a case study

✍ Keila S. Brito e Silva; Adriana Falangola B. Bezerra 📂 Article 📅 2010 🏛 John Wiley and Sons 🌐 English ⚖ 206 KB

The formation of healthcare consortia is a management strategy adopted by a number of cities in Brazil in order to minimize the difficulties the population has in access to services of greater technological complexity. As administrators are the main governmental actors in the promotion of this strat