Notional Defined Contributions (NDC) systems mimic the incentive structure of fully funded social security while preserving the Pay-as-you-go nature of most current systems. We study size-preserving social reforms which ...

Since its inception by the Brazilian System of Home Financing (Sistema Financeiro de Habitação – SFH) in 1971, the constant amortization scheme has become a very popular method of debt financing, even competing, particularly ...

This paper estimates the effects of economic downturns on the expansion of Pentecostal Evangelicalism in Brazil. We find that regions more exposed to economic distress experienced a persistent rise both in Pentecostal ...

This paper estimates the effects of economic downturns on religious conversion. We exploit the Brazilian trade liberalization to study the effects of local economic shocks on affiliation to Pentecostal Evangelicalism across ...

We study, in a life-cycle economy with three sectors - formal, informal and public – and endogenous retirement, the macroeconomic and occupational impacts of social security reforms in an economy with multiple pension ...

We study the effects of early childhood skill formation on productivity and schooling. We add early childhood human capital to a standard continuous time life cycle economy and assume complementarity between educational ...

This paper compares the time-varying cointegration and the Kalman filter techniques to estimate the Brazilian money demand between 1996 and 2015. The estimation using Kalman filtering performs better and is subsequently ...

Recent evaluations of how the Brazilian government’s primary surplus reacts to the evolution of the debt to GDP ratio convey two important (and worrisome) messages: first, the reaction function has been almost steadily ...

This article estimates a structural macroeconomic model of the Brazilian economy, with emphasis on the exchange rate, interest rate, inflation and public debt risk premium. The aim is to assess the effect of different ...

This paper evaluates the sustainability of public debt in Brazil using monthly data from January 2003 to June 2016, based on the estimation of fiscal reaction functions with time-varying coefficients. Three estimation ...