tailieunhanh - WORKING PAPER SERIES 141 - FORECASTING BONDS YIELDS IN THE BRAZILIAN FIXED INCOME MARKET

Since the mid-1990s, the Indian financial system has been steadily if incrementally deregulated and more exposed to international financial markets. Its rapid transformation has been accompanied by strong economic growth, increased market robustness, and a considerable increase in efficiency. Reforms are continuing with the development of appropriate market regulation and an associated payment and settlement system, as well as greater integration into global financial markets. The financial market as a whole, however, remains subject to a number of constraints that need to be eased if efficiency is to improve further. The level of bank and financial intermediation remains low, for instance, both. | ISSN 1518-3548 BANCO CENTRAL DO BRASIL Working Paper Series Forecasting Bonds Yields in the Brazilian Fixed Income Market Jose Vicente and Benjamin M. Tabak August 2007 Working Paper Series ISSN 1518-3548 CGC 0001-05 Brasília n. 141 Aug 2007 P. 1-29 Working Paper Series Edited by Research Department Depep - E-mail workingpaper@ Editor Benjamin Miranda Tabak - E-mail Editorial Assistent Jane Sofia Moita - E-mail Head of Research Department Carlos Hamilton Vasconcelos Araujo - E-mail The Banco Central do Brasil Working Papers are all evaluated in double blind referee process. Reproduction is permitted only if source is stated as follows Working Paper n. 141. Authorized by Mário Mesquita Deputy Governor for Economic Policy. General Control of Publications Banco Central do Brasil Secre Surel Dimep SBS - Quadra 3 - Bloco B - Edificio-Sede - 1 andar Caixa Postal 70074-900 Brasilia - DF - Brazil Phones 5561 3414-3710 and 3414-3567 Fax 5561 3414-3626 E-mail editor@ The views expressed in this work are those of the authors and do not necessarily reflect those of the Banco Central or its members. Although these Working Papers often represent preliminary work citation of source is required when used or reproduced. As opiniões expressas neste trabalho são exclusivamente do s autor es e não refletem necessariamente a visão do Banco Central do Brasil. Ainda que este artigo represente trabalho preliminar citagão da fonte é requerida mesmo quando reproduzido parcialmente. Consumer Complaints and Public Enquiries Center Address Secre Surel Diate Edificio-Sede - 2 subsolo SBS - Quadra 3 - Zona Central 70074-900 Brasilia - DF - Brazil Fax 5561 3414-2553 Internet http .