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Crédito direcionado e misallocation: evidência do Brasil

Texto completo
Autor(es):
Fernando Kuwer dos Santos
Número total de Autores: 1
Tipo de documento: Dissertação de Mestrado
Imprenta: São Paulo.
Instituição: Universidade de São Paulo (USP). Faculdade de Economia, Administração e Contabilidade
Data de defesa:
Membros da banca:
Gabriel de Abreu Madeira; Marco Antonio Cesar Bonomo; Sérgio Mikio Koyama
Orientador: Gabriel de Abreu Madeira
Resumo

This paper looks at misallocation effects of earmarked credit in the Brazilian Economy. This is a very important topic in Brazil, where the proportion of credit earmarked for specific types of loans reach about 40% of total credit. The earmarking rules are likely to generate distortions in loan\'s prices, producing differences in marginal returns to inputs across firms and sectors, and therefore misallocation of resources. Using a heterogeneous agents in continuous time model, we are able to study distributional effects of such policies and explore some computational advantages to solve the model. Furthermore, we calibrate such model using Brazilian credit microdata statistics linking firm size and loans. Additionally, we will verify how these earmarked resources interact with credit constraints that are probably present in the Brazilian economy (AU)

Processo FAPESP: 14/19402-4 - Direcionamento de crédito e misallocation
Beneficiário:Fernando Kuwer dos Santos
Linha de fomento: Bolsas no Brasil - Mestrado