Listagem FGV EPGE - Seminários de Pesquisa Econômica por Assunto "Dívida pública"
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The marginal cost of funds from public sector borrowing
2004-03-25An expression for the welfare cost of a marginal increase in the public debt is derived using a simple AK endogenous growth model. This measure of the marginal cost of public funds (MCF) can be interpreted as the marginal ... -
A pricing model for sovereign bond
1998-07-16Similar to the modeling used to evaluate ccnporate boncls, where it is a put optioo. 011 corporate assets, we modeled sovereign bonds. Instead of company's assets as underlining assets, we used foreign excbange reserves. ... -
A risk management approach to emerging market's sovereign debt sustainability with an application to Brazilian data
2004-05-27In this paper we study the question of debt sustainability from a risk management perspective. The debt accumulation equation for any country involves variables that are stochastic and closely intertwined. When these aspects ... -
Three applications of the marginal cost of public funds concept
2005-07-28This paper illustrates the use of the marginal cost of public funds concept in three contexts. First, we extend Parry’s (2003) analysis of the efficiency effects excise taxes in the U.K., primarily by incorporating the ...
