cometadata/datacite-titles-descriptions-related-identifiers huggingface dataset:
DOI: 10.6084/m9.figshare.20020470
title: Neutrality of Brazilian government deficit: evidence of the theory Ricardian Equivalence

description: To test the hypothesis of the Ricardian equivalence for the Brazilian economy between 1997 and 2011 was the central aim of the study. For that purpose, use has been made of the specification proposal made by Modigliani and Sterling (1986), which test for the equivalence of taxes and public debt by means of a consumption function. In accordance with that specification, a model with public debt default was estimated. Empirical results from both models indicate the non-rejection of the Ricardian Equivalence for the Brazilian economy. That is, if government spending is sustained, economic agents tend not to change their consumption level due to changes in the way of financing those expenditures.
DOI: 10.6084/m9.figshare.20020470.v1
title: Neutrality of Brazilian government deficit: evidence of the theory Ricardian Equivalence

description: To test the hypothesis of the Ricardian equivalence for the Brazilian economy between 1997 and 2011 was the central aim of the study. For that purpose, use has been made of the specification proposal made by Modigliani and Sterling (1986), which test for the equivalence of taxes and public debt by means of a consumption function. In accordance with that specification, a model with public debt default was estimated. Empirical results from both models indicate the non-rejection of the Ricardian Equivalence for the Brazilian economy. That is, if government spending is sustained, economic agents tend not to change their consumption level due to changes in the way of financing those expenditures.
DOI: 10.6084/m9.figshare.20020473
title: The effects of the commodities prices fluctuation on the foreign direct investment flow in Brazil

description: Given the commodities predominance on Brazilian exports, this research examined the relationship between the international prices of commodities and foreign investment inflow, which is the main funding source of the structural current account deficit. Based on the new development economics axiom, which holds that the foreign investment inflow depends on the external debt/exports ratio, a model was developed where this risk measure is a function of the international prices of commodities and the exchange rate (dollar/real). The savings substitution rate was employed as a dummy variable in the model. The results demonstrated that international prices have a significantly negative relationship with the risk measure, which is evidence of the relevance of the primary goods in funding the current account and, consequently, the balance of payments.
DOI: 10.6084/m9.figshare.20020473.v1
title: The effects of the commodities prices fluctuation on the foreign direct investment flow in Brazil

description: Given the commodities predominance on Brazilian exports, this research examined the relationship between the international prices of commodities and foreign investment inflow, which is the main funding source of the structural current account deficit. Based on the new development economics axiom, which holds that the foreign investment inflow depends on the external debt/exports ratio, a model was developed where this risk measure is a function of the international prices of commodities and the exchange rate (dollar/real). The savings substitution rate was employed as a dummy variable in the model. The results demonstrated that international prices have a significantly negative relationship with the risk measure, which is evidence of the relevance of the primary goods in funding the current account and, consequently, the balance of payments.
DOI: 10.6084/m9.figshare.20020476
title: Trade openness and income inequality: analysis for brazilian regions

description: This work studies the effects of trade liberalization and globalization over income distribution in the Brazilian regions taking into account the spatial dimension. The empirical model is based on the model developed by Venables and Limão (2002), who formalized the relationship between regional specialization and geographical location, and showed that production and trade patterns depend not only on the endowments of each region, but also the geographical location and transport costs. Panel data models for target markets were estimated using Brazilian export data. The results indicate that in the more developed regions of Brazil the behavior of relative wages seems to follow the predictions of the Stolper-Samuelson theory, while in the developing regions (North and Northeast), relative wages for unskilled labor are smaller, a result that despite being contrary to the Stolper-Samuelson effect has been predicted by the theoretical model presented.
DOI: 10.6084/m9.figshare.20020476.v1
title: Trade openness and income inequality: analysis for brazilian regions

description: This work studies the effects of trade liberalization and globalization over income distribution in the Brazilian regions taking into account the spatial dimension. The empirical model is based on the model developed by Venables and Limão (2002), who formalized the relationship between regional specialization and geographical location, and showed that production and trade patterns depend not only on the endowments of each region, but also the geographical location and transport costs. Panel data models for target markets were estimated using Brazilian export data. The results indicate that in the more developed regions of Brazil the behavior of relative wages seems to follow the predictions of the Stolper-Samuelson theory, while in the developing regions (North and Northeast), relative wages for unskilled labor are smaller, a result that despite being contrary to the Stolper-Samuelson effect has been predicted by the theoretical model presented.
DOI: 10.6084/m9.figshare.20020471
title: Context and features of brazilian public debt issues denominated in reais abroad

description: Macroeconomic stability and lower external vulnerability have allowed the issuance of Brazilian external debt bonds denominated in Brazilian reais since 2005. Those issuances have not been used to finance current account deficits. They are important to build a benchmark for corporate bond issuances, associated with the systemic risk of the Brazilian economy. Bond emissions in local currency usually have the advantage of eliminating the exchange rate risk for the debtor. It might also be used as hedge for an external investor, and they are not exposed to the convertibility risk, related to foreign reserve shortages or capital controls. Brazilian issuances of securities abroad denominated in local currency have had longer maturity than comparable bonds in the domestic market in the period. Since the country does not depend on foreign issuances to pay its debt, the monetary authority has been able to choose more favorable moments for the issuances in terms of the returns paid on the bonds.
DOI: 10.6084/m9.figshare.20020471.v1
title: Context and features of brazilian public debt issues denominated in reais abroad

description: Macroeconomic stability and lower external vulnerability have allowed the issuance of Brazilian external debt bonds denominated in Brazilian reais since 2005. Those issuances have not been used to finance current account deficits. They are important to build a benchmark for corporate bond issuances, associated with the systemic risk of the Brazilian economy. Bond emissions in local currency usually have the advantage of eliminating the exchange rate risk for the debtor. It might also be used as hedge for an external investor, and they are not exposed to the convertibility risk, related to foreign reserve shortages or capital controls. Brazilian issuances of securities abroad denominated in local currency have had longer maturity than comparable bonds in the domestic market in the period. Since the country does not depend on foreign issuances to pay its debt, the monetary authority has been able to choose more favorable moments for the issuances in terms of the returns paid on the bonds.
DOI: 10.6084/m9.figshare.20020479
title: Advertising investment as a tool for boosting consumption: testing Galbraith's hypothesis for Spain

description: The recession that most of the world economies have been facing in the last years has caused a great interest in the study of its macroeconomic effects. In this context, a debate has resurged regarding the advertising investment, as for its potential capacity to impel the consumer spending and to impact positively on the economic recovery. This idea, sustained in the so-called Galbraith's hypothesis, constitutes the core of this paper, where the main objective is to test that hypothesis by means of an empirical analysis. In this study, we focus on the Spanish case and the data correspond to the period 1976 -2010. A cointegration analysis is carried out, using two different approaches (Engle-Granger test and Gregory-Hansen test, respectively), to determine if there is any relationship between the advertising investment and six macromagnitudes (GDP, National Income, Consumption, Savings and Fixed Capital Formation), as well as the registered unemployment rate. Based on the results obtained, we conclude that Galbraith's hypothesis is not fulfilled for the Spanish case.
DOI: 10.6084/m9.figshare.20020479.v1
title: Advertising investment as a tool for boosting consumption: testing Galbraith's hypothesis for Spain

description: The recession that most of the world economies have been facing in the last years has caused a great interest in the study of its macroeconomic effects. In this context, a debate has resurged regarding the advertising investment, as for its potential capacity to impel the consumer spending and to impact positively on the economic recovery. This idea, sustained in the so-called Galbraith's hypothesis, constitutes the core of this paper, where the main objective is to test that hypothesis by means of an empirical analysis. In this study, we focus on the Spanish case and the data correspond to the period 1976 -2010. A cointegration analysis is carried out, using two different approaches (Engle-Granger test and Gregory-Hansen test, respectively), to determine if there is any relationship between the advertising investment and six macromagnitudes (GDP, National Income, Consumption, Savings and Fixed Capital Formation), as well as the registered unemployment rate. Based on the results obtained, we conclude that Galbraith's hypothesis is not fulfilled for the Spanish case.
DOI: 10.6084/m9.figshare.20020480
title: The impact of microcredit on income: the case of Banco Real in Brazil

description: This study aims to evaluate the impact of productive microcredit provided by a microfinance institution linked to a commercial bank by examining a sample of 20,628 customers. Academic literature points to the existence of shared specific characteristics amongst successful microcredit programs, including: (a) the use of a solidarity group, also called a joint debtor, (b) strong female participation, (c) a focus on poor regions, and (d) the presence of a loan officer. This article finds that the female variable is associated with increased income for the individual participant. Women began the program with an average sales value less than men, yet their sales grew exponentially at about 10% with each extension of credit.
DOI: 10.6084/m9.figshare.20020480.v1
title: The impact of microcredit on income: the case of Banco Real in Brazil

description: This study aims to evaluate the impact of productive microcredit provided by a microfinance institution linked to a commercial bank by examining a sample of 20,628 customers. Academic literature points to the existence of shared specific characteristics amongst successful microcredit programs, including: (a) the use of a solidarity group, also called a joint debtor, (b) strong female participation, (c) a focus on poor regions, and (d) the presence of a loan officer. This article finds that the female variable is associated with increased income for the individual participant. Women began the program with an average sales value less than men, yet their sales grew exponentially at about 10% with each extension of credit.
DOI: 10.6084/m9.figshare.20020483
title: Macroeconomic determinants of retail sales in Brazil, 2004-2011

description: This paper performs a panel exercise, including six Brazilian states, to determine the influence on retail sales of three main macro-indicators, such as personal income, unemployment rate and interest rates, in the 2004-2011period, when Brazilian economy showed an expressive economic growth rate. A SUR (seemingly uncorrelated residuals) methodology estimation across Brazilian states was conducted. All results point out that retail sales and personal income are linked contemporarily and, at the same time, elastic. As for unemployment rate and interest rates, despite their significance in most states, both are inelastic to explain retail sales and lagging three months in the macroeconomic context.
DOI: 10.6084/m9.figshare.20020482
title: The evolution of industrial credit in Brazil: an analisis based on ok macroeconomic factors

description: This work aimed at analyzing the influence of macroeconomic variables on the amount of credit to manufacturing industries in the post-Real period. As a scenario for the discussion there is, on one side, the decreasing trajectory of industrial credit in recent years and, on the other, the expansionary monetary policies. To achieve that goal, a vector autoregressive model with error correction was employed, which allowed the analysis of short and long-term dynamics. Results suggest that the recurring influence of the exchange rate and the aggregated product explains the behavior of credit operations in Brazilian economy, in both the short and long term. Furthermore, results also reveal the more prolonged effects of product over industrial credit, while variables related to politics, except exchange rate, produce temporary effects.
DOI: 10.6084/m9.figshare.20020482.v1
title: The evolution of industrial credit in Brazil: an analisis based on ok macroeconomic factors

description: This work aimed at analyzing the influence of macroeconomic variables on the amount of credit to manufacturing industries in the post-Real period. As a scenario for the discussion there is, on one side, the decreasing trajectory of industrial credit in recent years and, on the other, the expansionary monetary policies. To achieve that goal, a vector autoregressive model with error correction was employed, which allowed the analysis of short and long-term dynamics. Results suggest that the recurring influence of the exchange rate and the aggregated product explains the behavior of credit operations in Brazilian economy, in both the short and long term. Furthermore, results also reveal the more prolonged effects of product over industrial credit, while variables related to politics, except exchange rate, produce temporary effects.
DOI: 10.6084/m9.figshare.20020483.v1
title: Macroeconomic determinants of retail sales in Brazil, 2004-2011

description: This paper performs a panel exercise, including six Brazilian states, to determine the influence on retail sales of three main macro-indicators, such as personal income, unemployment rate and interest rates, in the 2004-2011period, when Brazilian economy showed an expressive economic growth rate. A SUR (seemingly uncorrelated residuals) methodology estimation across Brazilian states was conducted. All results point out that retail sales and personal income are linked contemporarily and, at the same time, elastic. As for unemployment rate and interest rates, despite their significance in most states, both are inelastic to explain retail sales and lagging three months in the macroeconomic context.
DOI: 10.6084/m9.figshare.20020485.v1
title: Child labor in urban Brazil: what is the role of the family structure?

description: The aim of this paper is to investigate the role of single parents on child labor in urban Brazil. We use data provided by Brazilian Demographic Census of 2010 and a probit model to account the choice for child labor. The results show that boys, age 14 whose parents have low level of education are more likely to work. We also find that children living with single mother have more likelihood to work than children who live in two-parent family, both at same level of income. The unfavorable condition of children in single-parent households only vanishes when the household income reaches a threshold level that strongly decreases the child laborâ€(tm)s propensity. The difference in child labor between the two groups of families is mainly due to their unobserved behaviors.
DOI: 10.6084/m9.figshare.20020485
title: Child labor in urban Brazil: what is the role of the family structure?

description: The aim of this paper is to investigate the role of single parents on child labor in urban Brazil. We use data provided by Brazilian Demographic Census of 2010 and a probit model to account the choice for child labor. The results show that boys, age 14 whose parents have low level of education are more likely to work. We also find that children living with single mother have more likelihood to work than children who live in two-parent family, both at same level of income. The unfavorable condition of children in single-parent households only vanishes when the household income reaches a threshold level that strongly decreases the child laborâ€(tm)s propensity. The difference in child labor between the two groups of families is mainly due to their unobserved behaviors.
DOI: 10.6084/m9.figshare.20020489
title: Poverty in Brazilian Northeast: a multidimensional analysis

description: This paper maps poverty profile of Brazilian Northeast regarding the lack of consumption and housing services, and contrasting them with income insufficiency, which is the most consolidated criterion to measured poverty in the international literature.We used data from the Nacional Survey for Housing Sample (PNAD, in Portuguese), in 2009. Among the main results, we found that the Northeast region has a huge percentage of households without access to housing services and consumer items comparatively to other regions and, moreover, this region is the worst in absolute terms. In the dimension of housing items, the scarcest item in all five macro regions is piped water, followed by sanitation (sewage) and electricity. Regarding consumption items, refrigerator is the most lacking item for Brazilian households. We also show that many families below the poverty line present no insufficiency in terms of housing and consumption dimensions.
DOI: 10.6084/m9.figshare.20020489.v1
title: Poverty in Brazilian Northeast: a multidimensional analysis

description: This paper maps poverty profile of Brazilian Northeast regarding the lack of consumption and housing services, and contrasting them with income insufficiency, which is the most consolidated criterion to measured poverty in the international literature.We used data from the Nacional Survey for Housing Sample (PNAD, in Portuguese), in 2009. Among the main results, we found that the Northeast region has a huge percentage of households without access to housing services and consumer items comparatively to other regions and, moreover, this region is the worst in absolute terms. In the dimension of housing items, the scarcest item in all five macro regions is piped water, followed by sanitation (sewage) and electricity. Regarding consumption items, refrigerator is the most lacking item for Brazilian households. We also show that many families below the poverty line present no insufficiency in terms of housing and consumption dimensions.
DOI: 10.6084/m9.figshare.20020492
title: The new configuration of production structure brazilian sugarcane industry: overview and prospects

description: The Brazilian sugarcane industry has attracted foreign investment since 2003/2004. The factors, that have stimulated this movement, are related to the prospects for the consolidation of an international market ethanol, expanding external and internal demand and the rising price of fossil fuel. Another factor is the competitiveness of Brazilian ethanol compared with other raw materials used in other countries. This paper aims to characterize and analyze the new configuration of the productive structure of the Brazilian sugarcane industry after the movement in foreign capital. The presence of foreign capital can change the dynamics of the sector, leading to the strengthening of the links in the production chain (trade linkages). Furthermore, the presence of foreign capital from the entry of transnational enterprises can raise research and technological development in the sugarcane industry, giving a new impulse.
DOI: 10.6084/m9.figshare.20020492.v1
title: The new configuration of production structure brazilian sugarcane industry: overview and prospects

description: The Brazilian sugarcane industry has attracted foreign investment since 2003/2004. The factors, that have stimulated this movement, are related to the prospects for the consolidation of an international market ethanol, expanding external and internal demand and the rising price of fossil fuel. Another factor is the competitiveness of Brazilian ethanol compared with other raw materials used in other countries. This paper aims to characterize and analyze the new configuration of the productive structure of the Brazilian sugarcane industry after the movement in foreign capital. The presence of foreign capital can change the dynamics of the sector, leading to the strengthening of the links in the production chain (trade linkages). Furthermore, the presence of foreign capital from the entry of transnational enterprises can raise research and technological development in the sugarcane industry, giving a new impulse.
DOI: 10.6084/m9.figshare.20020494.v1
title: International trade, labor allocation and the issue of deindustrialization in Brazil: an approach using computable general equilibrium

description: The present study aims to evaluate the impacts on the allocation of formal employment of labor factor in Brazil and verify evidence of deindustrialization, when a deepening of international trade occurs. The instrument used for the simulations of the scenarios, the GTAP (Global Trade Analysis Project), is a model of Computable General Equilibrium (CGE). The results, combined with data from RAIS (Annual Report of Social Information), indicated evidences of deindustrialization, due to the fall of employment in the Brazilian manufacturing industry, mainly in the average level of qualification. Preferential trade agreements with Asia and with the European Union would be the ones that would most contribute to it. However, there would be gains in welfare due to better allocation of productive resources and terms of trade.
DOI: 10.6084/m9.figshare.20020494
title: International trade, labor allocation and the issue of deindustrialization in Brazil: an approach using computable general equilibrium

description: The present study aims to evaluate the impacts on the allocation of formal employment of labor factor in Brazil and verify evidence of deindustrialization, when a deepening of international trade occurs. The instrument used for the simulations of the scenarios, the GTAP (Global Trade Analysis Project), is a model of Computable General Equilibrium (CGE). The results, combined with data from RAIS (Annual Report of Social Information), indicated evidences of deindustrialization, due to the fall of employment in the Brazilian manufacturing industry, mainly in the average level of qualification. Preferential trade agreements with Asia and with the European Union would be the ones that would most contribute to it. However, there would be gains in welfare due to better allocation of productive resources and terms of trade.