Now showing items 1-10 of 174
The resource curse reloaded: revisiting the Dutch disease with economic complexity analysis
This paper shows that the Dutch disease can be more formally characterised as low economic complexity using ECI-type indicators; there is a solid and robust inverse relationship between exports concentrating on natural ...
Dynamic D-Vine copula model with applications to Value-at-Risk (VaR)
Regular vine copulas are multivariate dependence models constructed from pair-copulas (bivariate copulas). In this paper, we allow the dependence parameters of the pair-copulas in a D-vine decomposition to be potentially ...
Revisiting the synthetic control estimator
VERSÃO ATUALIZADA DE ABRIL DE 2018 DISPONÍVEL.
Inference in differences-in-differences with few treated groups and heteroskedasticity
Differences-in-Differences (DID) is one of the most widely used identification strategies in applied economics. However, how to draw inferences in DID models when there are few treated groups remains an open question. We ...
A model of the rule of law
Economic development requires some limits on what those in power can do | the rule of law | but how can restraints be imposed on the powerful when there is no-one above them? This paper studies equilibrium rules allocating ...
Dynamic coordination among heterogeneous agents
We study a dynamic model of coordination with timing frictions and payoff heterogeneity. There is a unique equilibrium, characterized by thresholds that determine the choices of each type of agent. We characterize equilibrium ...
Unconditional transfers goes to health? Evidence from Brazilian municipalities
This study assesses the impact of unconditional transfer resources on the health indicators of Brazilian municipalities. This transfer refers to the Participation Fund of Municipalities (FPM) where at least 15% of its value ...
Intergovernmental transfers and public spending in Brazilian municipalities
We estimate the effects of unconditional (full fiscal decentralization) versus conditional (partial fiscal decentralization) block grants on local public spending in Brazilian municipalities. Our results suggest that the ...
Household borrowing constraints and monetary policy in emerging economies
Credit markets in emerging economies can be distinguished from those in advanced economies in many respects, including the collateral required for households to borrow. This work proposes a DSGE framework to analyze one ...
Financial frictions, informality and income inequality
We studied the effects of changes in banking spreads on distributions of income, wealth and consumption as well as the welfare of the economy. This analysis was based on a model of heterogeneous agents with incomplete ...