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This article evaluates how consumer expectations evolve over time and if three antecedents (negative experiences, alternative attractiveness and level of visitation) explain possible changes in expectations.

A conceptual model is structured with six hypotheses that are tested through articulated studies. First, a study with a longitudinal approach is developed and applied to a sample of students. Data collection is carried out over three periods and a latent growth model (LGM) is applied. Further ahead, another essay is developed to reexamine the moderating role of corporate image and level of visitation on the effect of negative experiences on expectations. For this, the role-playing approach is applied.

Study 1 reveals that patterns of expectations change from one service meeting to another, and these mutations are influenced by negative experiences and alternative attractiveness. Three pieces of evidence are highlighted. First, negative experiences produce contradictory and simultaneous movements in consumer expectations. Negative experiences reduce desired expectations and, at the same time, increase adequate expectations. These effects change in magnitude because of the corporate image. This confirms the moderating role of the corporate image in the relationship between negative experiences and expectations. This does not happen with the level of visitation, in which the moderating function is not sustained. The findings about moderating effects are confirmed by Study 2. Second, as customers have alternative companies, the minimum level of expectation rises. Alternative attractiveness positively impacts only adequate expectations. Third, the results do not support the relationship between the level of visitation and expectations. This reveals that more frequent customers do not necessarily have higher expectations.

This paper is the first to provide empirical results about the moderating effects of corporate image and level of visitation on the relationship between negative experiences and expectations.

This paper aims to investigate the existing relations between the management of public bonds on the dynamics of debt, term structure of interest rates and economic cycle, through a dynamic stochastic general equilibrium model (DSGE), which was estimated through Bayesian inference techniques using data from Brazil.

The model developed was used to investigate the effects of the public debt average maturity management when the economy faces a monetary policy shock. For this, three management scenarios are evaluated, including Brazilian securities average term.

Contrary to what might be inferred from DSGE models that limited the analysis of the debt term by imposing only one-period bonds, a contractionary monetary policy shock does not necessarily cause public debt to increase significantly. Debt term structure plays a crucial role in this result since the government does not need to roll the debt over at higher costs when the debt term profile is longer, reducing the debt service costs and then the impact on the overall debt.

Despite the relevance of this theme and its implications for the dynamics of the economy, there is still a gap to be filled in the literature when using DSGE models, since most part of the work that used this methodology limited the analysis of the debt term by imposing that government issues only one-period bonds. This paper differs from the others insofar as it promotes an investigation focused on the role played by debt maturity management on the performance of the contractionary monetary policy. This approach can generate a better understanding of debt management policy and its interaction with fiscal and monetary policies.