Despedalar repedalando? por Márcio Garcia e José R. Afonso publicado no Valor Econômico (01/2016). “As pedaladas foram artifícios para evitar que gastos fossem devidamente computados nas contas públicas quando assumidos, com objetivo de mascarar o verdadeiro resultado fiscal…No regime…
The limits of Brazil’s FX intervention programme by Márcio Garcia published by Financial Times (8/2014) “Last year’s taper tantrum caused massive turbulence in global markets. Risky assets suffered greatly and many emerging markets currencies depreciated heavily, including the Brazilian…
DNDFs: a more efficient way to intervene in FX markets? by Marcio G. P. Garcia and Tony Volpon published by PUC/Rio. “we analyze the unique intervention strategy of the BCB using DNDFs (Domestic-Non-Deliverable Forwards): currency forwards that settle in…
“Guest post: Brazil’s DNDFs – a new form of FX intervention?” by Márcio Garcia and Tony Volpon – – “Guest post: time to wean Brazilian companies off the BNDES” by Márcio Garcia – h – “Opinion: the case for Brazil’s BNDES – http://on.ft.com/1rfap7i “Guest post:…
Brazil: did inward c apital controls work? by Márcio Garcia (3/2013) published by VOXEU. “Did inward capital controls work for Brazil? This column assesses the evidence, concluding that capital controls are desirable if they help avoid excessive debt and…
Mercados futuro e à vista de câmbio no Brasil: O rabo abana o cachorro por André Ventura e Márcio Garcia. “Mostra-se que o mercado de dólar futuro é muito mais liquido do que o mercado à vista no Brasil….
Treasury loans to the BNDES: Cornucopia? by Márcio G. P. Garcia. “The authors recognize that part of the investments financed by the BNDES would have been financed by other sources, if the subsidized financing had not existed. Therefore, it…
Bye, Bye financial repression, hello financial deepening: The anatomy of a financial boom by João Manoel P. De Mello and Márcio G. P. Garcia. “Since the conquest of hyperinflation, with the Real Plan, in 1994, the Brazilian financial system…
The financial system and the brazilian economy during the great crisis of 2008 by Márcio G. P. Garcia. “The Brazilian economy and financial system came through the international crisis of 2008 relatively unscathed. With regard to the financial sector,…
Perspectivas para a economia brasileira face as incertezas do cenário externo – palestra de Márcio Garcia. Evolução recente dos principais indicadores econômicos; Europa; China, Produção Industrial…foram alguns dos pontos abordados na apresentação.
