Crise do subprime: como a bolha imobiliária e o mercado financeiro derrubaram a economia americana em 2008, e os reflexos da crise para o Brasil

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A crise do subprime e seus efeitos sobre os Estados Unidos e reflexos no Brasil

Between December 2007 and June 2009 the United States witnessed 18 months of recession that became known as the subprime crisis. Beginning in the housing market, the crisis moved into the banking and financial markets and spread throughout the entire economy through a domino effect, affecting the majority of other businesses. A major reflection of this was the large rise in unemployment rates due to business slashing jobs in an attempt to preserve cash. Although the crisis has officially ended, the unemployment rate reached over 10% in 2010 in the United States. American's continue to seek new jobs in a very difficult employment market, while attempting to manage the family household budget. American household income, which decreased either by pay cuts, job loss, and the effects of inflation, leads the majority of Americans to declare that the crisis had not yet ended. The crisis has spread to the world in varying degrees. Brazil was one of the countries least affected due to government policies and the large amount of foreign exchange. Although the crisis has affected Brazil only slightly, we will show how it reached this country and how the government solved this problem. This research paper will explain how the subprime crisis began, how it manifested itself in the U.S. economy and throughout the population. Also, it will show the crisis’ effects in Brazil and show some statements from Americans with their respective views and their experiences relative to the crisis

Direcionamento de crédito: uma análise sobre os efeitos da atuação do BNDES durante a crise do Subprime

This essay treats the government acting on the National Financial System (SFN) through the policy of directing credit, a common practice within industrialization attempts. In Brazil this policy occurred mainly through the principal instrument of the government on the financial system, the National Bank of Economic and Social Development (BNDES). It will be explained BNDES’ position within public finances and its ability to mobilize or act as an intermediary for mobilizing resources for the economy. Will also be addressed the countercyclical characteristics of BNDES’ disbursements in the Brazilian economy using as a backdrop the financial crisis that erupted in the overthrow of the mortgages in the USA, also known as the subprime crisis. Finally we will present the main ideas behind the criticism and praise that this model with strong state presence in the financial system suffers

Modalidades e hierarquias do crédito na cafeicultura paulista (1889-1930)

A partir do edifício teórico braudeliano investiga-se as modalidades de crédito praticadas na cafeicultura paulista, bem como as hierarquias que caracterizaram o seu funcionamento e organização. Lista-se neste artigo uma série de operações de crédito captadas por fontes documentais de diferentes naturezas, buscando subsidiar a discussão sobre a diversidade das formas de obtenção de crédito no espaço em questão. O ponto de nosso argumento é que o interior do estado, especializado na produção de café, joga papel fundamentalmente subordinado na hierarquia e na cadeia do crédito, dominada pelo grande capital cafeeiro, sendo que os mecanismos de concentração da riqueza e das oportunidades se situam mais destacadamente na capital paulista, que, por sua vez, também ocupa posição subordinada em relação aos principais centros capitalistas.

Identifying financial crises in real time

Following the thermodynamic formulation of a multifractal measure that was shown to enable the detection of large fluctuations at an early stage, here we propose a new index which permits us to distinguish events like financial crises in real time. We calculate the partition function from which we can obtain thermodynamic quantities analogous to the free energy and specific heat. The index is defined as the normalized energy variation and it can be used to study the behavior of stochastic time series, such as financial market daily data. Famous financial market crashes-Black Thursday (1929), Black Monday (1987) and the subprime crisis (2008)-are identified with clear and robust results. The method is also applied to the market fluctuations of 2011. From these results it appears as if the apparent crisis of 2011 is of a different nature to the other three. We also show that the analysis has forecasting capabilities. © 2012 Elsevier B.V. All rights reserved.

A crise econômica no Japão após os anos 90

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Modelagem estocástica de opções de câmbio no Brasil: aplicação de transformada rápida de Fourier e expansão assintótica ao modelo de Heston

Pós-graduação em Física - IFT

A questão regional e o BNDES: uma análise da conformidade entre a atuação do BNDES e a Política Nacional de Desenvolvimento Regional (PNDR)

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Uso de modelos estatísticos para dados de escore de crédito de uma instituição financeira

Pós-graduação em Engenharia de Produção - FEB

Empréstimos lingüísticos e estrangeirismo: a legitimação de teorias lingüísticas através de leigos

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A reestruturação produtiva da avicultura de corte: Rio Verde (GO) e Videira (SC)

Pós-graduação em Zootecnia - FCAV

Cultura organizacional: uma análise da microempresa familiar informal

Analyze possible relationships between the bankruptcy and the family structure of informal micro-enterprises in Fortaleza city, Brazil. The analysis began with a research among micro-entrepreneurs who were beneficiaries of PROFITEC loans in bankruptcy and non-bankruptcy situation in 1997-1999 period. Evaluate whether the overlap of family and professional relationship inside the organizational structure of those micro-enterprises is a factor leading to bankruptcy. The comparative analysis divides the micro-enterprises into two groups: one that which had complied with the loan obligations (abiding firms) and another which had not (non-abiding firms). The analysis pointed out the familiar structure as having positive and negative influences over organizational work in both groups. The research also realized that those groups of family informal micro-enterprises do not recognize the professional problems related to the family, giving room for managerial conflicts related to the compliance, work time and use of profit. We cannot say that family structure of the informal microenterprises is the decisive cause for non-abidance, since there are also family firms which have the same disadvantages of both groups, but are complying with their obligations. The personal relationships in the informal family firms, however, define good practices and behaviors that definitely affect their operations.

A influência da língua inglesa na formação de nomes comerciais: questões de identidade linguística e cultural

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A crise da Grécia: origens, interpretações e alternativas

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Finanças comportamentais e a formação de bolhas especulativas

Economic crises caused by speculative bubbles are recurring in economic history but there is still no consensus on how it begins, grows and overflows. Economists and regulators seem to be inefficient in predicting and preventing this process, which is so detrimental to economic functioning. This failure proved to be obvious with the American subprime crises, which had great impact on various sectors of the U.S. economy. In this paper, we perform a literature review of the traditional theory of finance, mainly represented by the Efficient Market Hypothesis. According to this theory, asset prices always reflect their intrinsic value, assumption that doesn’t match the price boom followed by a crash, observed in the crisis generated by speculative bubbles. Finally, we present a new way to analyze this phenomenon, in the light of the investors’ behavioral aspects and the flaws inherent to the financial markets