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A saúde brasileira não se diferencia de muitas áreas de interesse público no Brasil, onde a realidade vivenciada pela população está muito distante da ampla cobertura registrada na lei. Este trabalho tem por objetivo avaliar a magnitude das despesas da sociedade brasileira na área da saúde, abrangendo tanto os gastos públicos como os gastos privados das famílias, a partir de uma comparação de dados agregadosde países de renda média da América Latina e dos Brics. Os resultados indicam que os gastos na área da saúde no Brasil estão acima da média da amostra selecionada, com os gastos públicos ocupando uma posição intermediária, compatível com nosso nível de renda. Diante das restrições impostas pela condição econômica, é preciso intensificar o debate voltado à racionalização e priorização desses gastos.

The investigation of the stochastic behavior of financial series has become widespread over the literature. There is empirical and theoretical evidence that the total stock price change over a long period is usually concentrated in the a few hectic runs of trading days. The drawdown is a random variable which provides information on alternative characteristics of market behavior during these periods. In this work, we use distributions from extreme value theory to model the severity of drawdowns and drawups. We illustrate using nine currency exchange rates and gold.

The efficient market hypothesis is one of the most popular subjects in the empirical finance literature. Previous studies of the stock markets, which are mostly based on fixed-time price variations, have inconclusive findings: evidence of short-term predictability varies according to different samples and methodologies. We propose a novel approach and use drawdowns and drawups as triggers, to investigate the existence of short-term abnormal returns in the stock markets. As these measures are not computed within a fixed time horizon, they are flexible enough to capture subordinate, time-dependent processes that could drive market under- or overreaction. Most estimates in our results support the efficient market hypothesis. The underreaction hypothesis receives stronger support than does overreaction, with higher prevalence of return continuations than reversals. Evidence for the uncertain information hypothesis is present in some markets, mainly after lower-magnitude events.

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