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Introducing higher moments in the CAPM: some basic ideas
(Escola de Pós-Graduação em Economia da FGV, 1999-11-01)
We show how to include in the CAPM moments of any order, extending the mean-variance or mean-variance-skewness versions available until now. Then, we present a simple way to modify the formulae, in order to avoid the ...
Growth, increasing returns, and public infrastructure : time series evidence
(Escola de Pós-Graduação em Economia da FGV, 1995-03)
Initial endogenous growth models emphasized the importance of external effects and increasing retums in explaining growth. Empirically, this hypothesis can be confumed if the coefficient of physical capital per hour is ...