Now showing items 21-40 of 58

    • Determinação de preços de ativos, arbitragem, mercado a termo e mercado futuro 

      Auler, Flávio; Werlang, Sérgio Ribeiro da Costa
      1993-08-01
      O artigo é dividido em duas partes: a primeira tem por fim apresentar um modelo básico de determinaçio de preços de ativos e definir o que vem a ser uma oportunidade de arbitragem. Na segunda parte é analisado inicialmente ...
    • Educação e distribuição de renda 

      Leal, Carlos Ivan Simonsen; Werlang, Sérgio Ribeiro da Costa
      1990-04
    • The ex-Ante non-optimality of the Dempster-Schafer updating rule for ambiguous beliefs 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1992-02
      The most widely used updating rule for non-additive probalities is the Dempster-Schafer rule. Schmeidles and Gilboa have developed a model of decision making under uncertainty based on non-additive probabilities, and in ...
    • Excess volatility of stock prices and knightian uncertainty 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1991
    • Financial integration and public financial institutions 

      Werlang, Sérgio Ribeiro da Costa; Novaes, Walter
      1993-11
      This article highlights the problems associated with the existence of financiai institutions owned by a State which is a member of a federation. We show that these financiai institutions allow the States to transfer deficits ...
    • Finanças: uma resenha de quatro livros 

      Werlang, Sérgio Ribeiro da Costa
      1991-11-02
      A teoria das decisões financeiras, ou teoria das finanças, ou simplesmente finanças, é de longa data objeto de estudo de renomados economistas, dentre eles Kenneth Arrow. A premiação do Nobel de 1990, dado a três economistas ...
    • Homothetic preferences 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1991-04
      This paper describes properties of upper semi-continuous homothetic preferences. First we give conditions for the existence of an upper semi-continuous representation which is homogeneous of degree one. Then we show that ...
    • Inflação e credibilidade 

      Werlang, Sérgio Ribeiro da Costa
      1992-08
    • Inflationary bias and state owned financial institutions 

      Novaes, Walter; Werlang, Sérgio Ribeiro da Costa
      1994-06
      This article explains why the existence of state owned financial institutions makes it more difficult for a country to balance its budget. We show that states can use their financiaI institutions to transfer their deficits ...
    • Jogos de informação incompleta : uma introdução 

      Werlang, Sérgio Ribeiro da Costa
      1984
    • A Keynesian model of nominal wage rigidity 

      Werlang, Sérgio Ribeiro da Costa
      1990-04-01
      We present a Model that reflects Keynes' intuition concerning nominal wage rigidity: workers like to keep their relative status on society. Several results are presented, including the analysis of the influence of risk ...
    • Laws of large numbers for non-additive probabilities 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1993-12
      We apply the concept of exchangeable random variables to the case of non-additive robability distributions exhibiting ncertainty aversion, and in the lass generated bya convex core convex non-additive probabilities, ith a ...
    • The LDC debt problem: a game-theoretical analisys 

      Simonsen, Mario Henrique; Werlang, Sérgio Ribeiro da Costa
      1989
      We review the LDC debt crisis since 1982, by means of game theory. New insights are obtained into the reasons behind the formation of the creditors' carte1 and the nature of the difficu1ties invo1ved in the formation of ...
    • Local concavifiability of preferences and determinacy of equilibrium 

      Pascoa, Mario Rui; Werlang, Sérgio Ribeiro da Costa
      1991-05
      In this paper we consider strictly convex monotone continuous complete preorderings on R+n that are locally representable by a concave utility function. By Alexandroff 's (1939) theorem, this function is twice dífferentiable ...
    • Macroeconomia com M4 

      Leal, Carlos Ivan Simonsen; Werlang, Sérgio Ribeiro da Costa
      1990
      O trabalho trata de refazer modelos macroeconômicos usuais, como por exemplo o IS-LM, com a introdução de um agregado amplo de liqüidez, o M4. Faz-se uma cuidadosa análise da identidade de Walras, estendendo-se Simonsen ...
    • Macroeconomia com racionamento: um modelo simplicidade para economia aberta 

      Leal, Carlos Ivan Simonsen; Cysne, Rubens Penha; Werlang, Sérgio Ribeiro da Costa
      1985
    • A model to estimate the US term structure of interest rates 

      Duarte Junior, Antonio Marcos; Werlang, Sérgio Ribeiro da Costa
      1995-10
      The US term structure of interest rates plays a central role in fixed-income analysis. For example, estimating accurately the US term structure is a crucial step for those interested in analyzing Brazilian Brady bonds such ...
    • Moratória interna, dívida pública e juros reais 

      Marques, Maria Silvia Bastos; Werlang, Sérgio Ribeiro da Costa
      1988-01-01
      Desenvolve-se, neste trabalho, um modelo de oferta e de demanda de dívida pública. Através dele estuda-se a dinâmica da dívida pública e dos juros reais. Introduz-se a possibilidade de moratória interna e seus efeitos são ...
    • Nash equilibrium under knightian uncertainty: breaking down backward induction (extensively revised version) 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1993-04
      We define Nash equilibrium for two-person normal form games in the presence of uncertainty, in the sense of Knight(1921). We use the fonna1iution of uncertainty due to Schmeidler and Gilboa. We show tbat there exist Nash ...
    • Nash equilibrium under knightian uncertainty: breaking-down backward induction 

      Dow, James; Werlang, Sérgio Ribeiro da Costa
      1992-02
      We present two alternative definitions of Nash equilibrium for two person games in the presence af uncertainty, in the sense of Knight. We use the formalization of uncertainty due to Schmeidler and Gilboa. We show that, ...