Essays on international finance, default and inflation
Autor(a) principal: | |
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Data de Publicação: | 2006 |
Tipo de documento: | Tese |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | https://hdl.handle.net/10438/1049 |
Resumo: | This thesis is composed by three papers, each one of them corresponding to one chapter. The first and the second chapters are essays on international finance appraising default and inflation as equilibrium outcomes for crisis time, in particular, for confidence crisis time that leads to speculative attack on the external public debt issued by emerging economies. With this background in mind, welfare effects from adopting common currency (chapter 1) and welfare effects from increasing the degree of economic openness (chapter 2) are analyzed in numerical exercises, based on DSGE framework. Cross-countries results obtained are then presented to be compared with empirical evidence and to help on understanding past policy decisions. Some policy prescriptions are also suggested. In the third chapter we look to the inflation targeting regime applied to emerging economies that are subject to adverse shocks, like the external debt crisis presented in the previous chapters. Based on a more theoretical approach, we appraise how pre commitment framework should be used to coordinate expectations when policymaker announcement has no full credibility and self fulfilling inflation may be possible. |
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Santos, Rafael ChavesEscolas::EPGELeon, Márcia SaraivaMinella, AndréTerra, Maria Cristina TrindadeCavalcanti, Ricardo de OliveiraAraújo, Aloísio Pessoa de2008-05-13T15:52:39Z2008-05-13T15:52:39Z2006SANTOS, Rafael Chaves. Essays on international finance, default and inflation. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2006.https://hdl.handle.net/10438/1049This thesis is composed by three papers, each one of them corresponding to one chapter. The first and the second chapters are essays on international finance appraising default and inflation as equilibrium outcomes for crisis time, in particular, for confidence crisis time that leads to speculative attack on the external public debt issued by emerging economies. With this background in mind, welfare effects from adopting common currency (chapter 1) and welfare effects from increasing the degree of economic openness (chapter 2) are analyzed in numerical exercises, based on DSGE framework. Cross-countries results obtained are then presented to be compared with empirical evidence and to help on understanding past policy decisions. Some policy prescriptions are also suggested. In the third chapter we look to the inflation targeting regime applied to emerging economies that are subject to adverse shocks, like the external debt crisis presented in the previous chapters. Based on a more theoretical approach, we appraise how pre commitment framework should be used to coordinate expectations when policymaker announcement has no full credibility and self fulfilling inflation may be possible.engTodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveis.info:eu-repo/semantics/openAccessEssays on international finance, default and inflationinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisEconomiaFinanças internacionaisInflaçãoRelações econômicas internacionaisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL2282.pdfPDFapplication/pdf690901https://repositorio.fgv.br/bitstreams/6c6ac655-3028-4b14-b918-c330a2a3edb9/downloadf45f4bb28439e9a49c38f0a9702c71e4MD51TEXT2282.pdf.txt2282.pdf.txtExtracted Texttext/plain155466https://repositorio.fgv.br/bitstreams/f30ff95a-7c93-45ea-bb61-8b7af0b735a4/downloadfa72b89aacb1ef5dc51ed0d3fa51911dMD52THUMBNAIL2282.pdf.jpg2282.pdf.jpgGenerated Thumbnailimage/jpeg1721https://repositorio.fgv.br/bitstreams/4008e15a-1240-434b-898f-984aa4e6f39b/download4b9c63d35ac465e3ec3bc34422c0e369MD5310438/10492024-06-17 16:02:49.014open.accessoai:repositorio.fgv.br:10438/1049https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742024-06-17T16:02:49Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false |
dc.title.eng.fl_str_mv |
Essays on international finance, default and inflation |
title |
Essays on international finance, default and inflation |
spellingShingle |
Essays on international finance, default and inflation Santos, Rafael Chaves Economia Finanças internacionais Inflação Relações econômicas internacionais |
title_short |
Essays on international finance, default and inflation |
title_full |
Essays on international finance, default and inflation |
title_fullStr |
Essays on international finance, default and inflation |
title_full_unstemmed |
Essays on international finance, default and inflation |
title_sort |
Essays on international finance, default and inflation |
author |
Santos, Rafael Chaves |
author_facet |
Santos, Rafael Chaves |
author_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.member.none.fl_str_mv |
Leon, Márcia Saraiva Minella, André Terra, Maria Cristina Trindade Cavalcanti, Ricardo de Oliveira |
dc.contributor.author.fl_str_mv |
Santos, Rafael Chaves |
dc.contributor.advisor1.fl_str_mv |
Araújo, Aloísio Pessoa de |
contributor_str_mv |
Araújo, Aloísio Pessoa de |
dc.subject.area.por.fl_str_mv |
Economia |
topic |
Economia Finanças internacionais Inflação Relações econômicas internacionais |
dc.subject.bibliodata.por.fl_str_mv |
Finanças internacionais Inflação Relações econômicas internacionais |
description |
This thesis is composed by three papers, each one of them corresponding to one chapter. The first and the second chapters are essays on international finance appraising default and inflation as equilibrium outcomes for crisis time, in particular, for confidence crisis time that leads to speculative attack on the external public debt issued by emerging economies. With this background in mind, welfare effects from adopting common currency (chapter 1) and welfare effects from increasing the degree of economic openness (chapter 2) are analyzed in numerical exercises, based on DSGE framework. Cross-countries results obtained are then presented to be compared with empirical evidence and to help on understanding past policy decisions. Some policy prescriptions are also suggested. In the third chapter we look to the inflation targeting regime applied to emerging economies that are subject to adverse shocks, like the external debt crisis presented in the previous chapters. Based on a more theoretical approach, we appraise how pre commitment framework should be used to coordinate expectations when policymaker announcement has no full credibility and self fulfilling inflation may be possible. |
publishDate |
2006 |
dc.date.issued.fl_str_mv |
2006 |
dc.date.accessioned.fl_str_mv |
2008-05-13T15:52:39Z |
dc.date.available.fl_str_mv |
2008-05-13T15:52:39Z |
dc.type.status.fl_str_mv |
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dc.type.driver.fl_str_mv |
info:eu-repo/semantics/doctoralThesis |
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doctoralThesis |
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publishedVersion |
dc.identifier.citation.fl_str_mv |
SANTOS, Rafael Chaves. Essays on international finance, default and inflation. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2006. |
dc.identifier.uri.fl_str_mv |
https://hdl.handle.net/10438/1049 |
identifier_str_mv |
SANTOS, Rafael Chaves. Essays on international finance, default and inflation. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2006. |
url |
https://hdl.handle.net/10438/1049 |
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eng |
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eng |
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openAccess |
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