Palestrante: Natalia Dus Poiattiy (London Business School)
Does informality drive sovereign credit spreads? Is there reverse causality from sovereign spreads to informality? To provide an answer for these questions, I develop a novel theoretical and empirical study. It offers a tractable small open economy model with informality frictions, which establishes a theoretical
foundation for the research questions. It also provides explicit solutions for optimal government policy, default probabilities, credit spreads and informality choices. Empirically, I measure the causal relationships between spreads and informality, by considering exogenous shocks to both. The model is consistent with many empirical facts.
Data: 12 de Março de 2013 (quarta-feira)
Local: Campus Insper Instituto de Ensino e Pesquisa
Rua Quatá, 300 – Vila Olímpia
Sala 203 – 2º andar