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Existe um hedge para a moeda em ambientes de inflação: a evolução institucional da dívida pública no Brasil

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  • Leite, Marcel Guedes
  • Arvate, Paulo Roberto

Abstract

O objetivo deste artigo é encontrar uma justificativa teórica para a alocação da dívida pública na riqueza financeira dos agentes em face aos sucessivos defaults impostos pelo setor público aos demandantes de dívida pública interna. Trabalhamos com agentes avessos ao risco, mais comum dos casos, e demonstraremos em que situação, dentro do conjunto institucional vigente para economia brasileira no período inflacionário, poderia a dívida pública interna servir como um hedge para a função reserva de valor da moeda.

Suggested Citation

  • Leite, Marcel Guedes & Arvate, Paulo Roberto, 2000. "Existe um hedge para a moeda em ambientes de inflação: a evolução institucional da dívida pública no Brasil," Textos para discussão 97, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
    • Handle: RePEc:fgv:eesptd:97
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    References listed on IDEAS

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    1. Leite, Marcel Guedes & Arvate, Paulo Roberto, 2000. "Participação relativa da dívida pública interna na riqueza financeira dos agentes privados: um estudo exploratório," Textos para discussão 96, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
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