[pt] ENSAIOS SOBRE OS INSTRUMENTOS DE POLÍTICA CAMBIAL E HEDGE
[en] ESSAYS ABOUT INSTRUMENTS OF FOREIGN EXCHANGE POLICY AND HEDGE
| dc.contributor | WALTER NOVAES FILHO | |
| dc.creator | FERNANDO NASCIMENTO DE OLIVEIRA | |
| dc.date | 2004-09-09 | |
| dc.date.accessioned | 2022-09-21T21:44:04Z | |
| dc.date.available | 2022-09-21T21:44:04Z | |
| dc.identifier | https://www.maxwell.vrac.puc-rio.br/colecao.php?strSecao=resultado&nrSeq=5433@1 | |
| dc.identifier | https://www.maxwell.vrac.puc-rio.br/colecao.php?strSecao=resultado&nrSeq=5433@2 | |
| dc.identifier | http://doi.org/10.17771/PUCRio.acad.5433 | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12032/42871 | |
| dc.description | [pt] Esta Tese de Doutorado consiste de três ensaios sobre os instrumentos de Política Cambial e Hedge. No primeiro ensaio, mostramos que os instrumentos de intervenção do Banco Central no mercado de câmbio só foram eficazes em períodos sem crise cambial. No segundo ensaio, mostramos utilizando um banco de dados original com 23.767 contratos de swap cambial abertos em 2002, que houve um forte componente especulativo na demanda de derivativos de câmbio de empresas de capital aberto brasileiras. De um total de 93 empresas com posições abertas, 51 especularam e 42 fizeram hedge. Finalmente, o terceiro ensaio mostra que as intervenções com derivativos de câmbio do Banco Central só foram repassadas para o setor produtivo pelas instituições financeiras em períodos sem crise cambial. | |
| dc.description | [en] This Doctoral Thesis consists of three essays about instruments of foreign exchange policy and hedge. In the first essay, we show that the instruments of intervention of the Central Bank in the foreign exchange market were only effective in periods without foreign exchange crisis. In the second essay, we show using an original database with 23.767 contracts of foreign exchange swaps open in 2002, that there was a strong speculative motive in the demand of foreign exchange derivatives of brazilian corporations. Of a total of 93 corporations with open positions, 51 speculated and 42 hedged. Finally, the third essay shows that interventions with foreign exchange derivatives were not transferred to the productive sector by the financial institutions in periods of foreign exchange crisis. | |
| dc.language | pt | |
| dc.publisher | MAXWELL | |
| dc.subject | [pt] DERIVATIVOS | |
| dc.subject | [pt] INTERVENCOES DO BANCO CENTRAL | |
| dc.subject | [pt] TAXA DE CAMBIO NOMINAL | |
| dc.subject | [en] DERIVATIVES | |
| dc.subject | [en] INTERVENTIONS OF THE CENTRAL BANK | |
| dc.subject | [en] NOMINAL EXCHANGE RATE | |
| dc.title | [pt] ENSAIOS SOBRE OS INSTRUMENTOS DE POLÍTICA CAMBIAL E HEDGE | |
| dc.title | [en] ESSAYS ABOUT INSTRUMENTS OF FOREIGN EXCHANGE POLICY AND HEDGE | |
| dc.type | TEXTO |
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