Victor Lira Stilita

Who bears the burden of monetary tightening? credit default responses across income groups and firm sizes in Brazil

This paper examines heterogeneous monetary transmission to credit default in Brazil, exploiting granular disaggregation by income bracket, firm size, and state. Using monthly Central Bank data from 2012 to 2024 covering all 27 Brazilian states, we document heterogeneous predictive responses across households and firms....