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Central Bank credibility and inflation expectations: a microfounded forecasting approach
Credibility is elusive and no generally agreed upon measure of it exists. Despite that, Blinder (2000) generated a consensus in the literature by arguing that ”A central bank is credible if people believe it will do what ...
Incentive-driven Inattention
“Rational inattention” is becoming increasingly prominent in economic modelling, but there is little empirical evidence for its central premise–that the choice of attention results from a cost-benefit optimization. ...
Housing supply in the presence of informality
We study housing supply in markets where informal housing is common. Using a combination of census and satellite data, we estimate housing supply for more than 90 metropolitan areas in Brazil. We find that widespread ...
Economia latino-americana: reflexões
(1969-12)
Bancos comerciais no Brasil : considerações gerais
(1969-07)
Os problemas relativos ao sistema bancário até bem pouco tempo não eram considerados pelos economistas pelo fato de terem as atividades governamentais poder de controlá-lo Uma vez que as autoridades pudessem intervir ...
