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Contágio marginal no novo Sistema de Pagamentos Brasileiro

Author

Listed:
  • Rodrigo Peñaloza

    () (Departamento de Economia (Department of Economics) Faculdade de Economia, Administração, Contabilidade e Ciência da Informação e Documentação (FACE) (Faculty of Economics, Administration, Accounting and Information Science) Universidade de Brasília)

Abstract

In this paper we adapt Penaloza (2005)s nite-dimensional model of shadow-prices in real-time gross settlement systems to the new Brazilian Payment System. The novelty of our application is a better treatment of securities and their role in the smoothing of the ow of payments during the day.

Suggested Citation

  • Rodrigo Peñaloza, 2011. "Contágio marginal no novo Sistema de Pagamentos Brasileiro," Working papers - Textos para Discussao do Departamento de Economia da Universidade de Brasilia 354, Departamento de Economia da Universidade de Brasilia.
  • Handle: RePEc:brs:wpaper:354
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    File URL: http://vsites.unb.br/face/eco/textos/didaticos/WP%20354.pdf
    File Function: First version, 2011
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    More about this item

    Keywords

    shadow-prices; duality theory; Brazilian Central Bank.;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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