英文标题：
《Is the public sector of your country a diffusion borrower? Empirical
  evidence from Brazil》
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作者：
Leno S. Rocha, Frederico S. A. Rocha and Th\\\'arsis T. P. Souza
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最新提交年份：
2016
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英文摘要：
  We propose a diffusion process to describe the global dynamic evolution of credit operations at a national level given observed operations at a subnational level in a sovereign country. Empirical analysis with a unique dataset from Brazilian federate constituents supports the conclusions. Despite the heterogeneity observed in credit operations at a subnational level, the aggregated dynamics at a national level were accurately described with the proposed model. Results may guide management of public finances, particularly debt manager authorities in charge of reaching surplus targets.
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中文摘要：
我们提出了一个扩散过程来描述在主权国家的次国家层面观察到的信贷业务在国家层面上的全球动态演变。利用来自巴西联邦选民的独特数据集进行的实证分析支持了上述结论。尽管在国家以下级别的信贷业务中观察到了异质性，但所提出的模型准确地描述了国家级别的聚合动态。结果可能会指导公共财政管理，尤其是负责实现盈余目标的债务管理机构。
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：General Finance        一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Physics        物理学
二级分类：Physics and Society        物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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一级分类：Quantitative Finance        数量金融学
二级分类：Statistical Finance        统计金融
分类描述：Statistical, econometric and econophysics analyses with applications to financial markets and economic data
统计、计量经济学和经济物理学分析及其在金融市场和经济数据中的应用
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