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Preferential trade agreements and global sourcing
(2019-07-01)
We study how a preferential trade agreement (PTA) affects international sourcing decisions, aggregate productivity and welfare under incomplete contracting and endogenous matching. Contract incompleteness implies ...
On the road to social mobility? affirmative action and major choice
(2019-06-14)
Around the world, students from a disadvantaged background are underrepresented in prestigious and lucrative fields of study, such as medicine and STEM. We know little about whether universities can affect individuals' ...
The role of resource misallocation in structural change
(2019-02-27)
We develop a multi-sector model of economic growth to explain the distinct patterns of structural change in manufacturing sectors in industrialized countries and those in developing and emerging industrial countries. To ...
Price discovery and market microstructure noise
(2019-01-21)
Using a continuous-time price discovery model, we show that the standard econometric framework typically yields inconsistent estimates of the price discovery measures in the presence of market microstructure noise due the ...
Institutional specialization
(2019-01)
This paper presents a theory of institutional specialization in which some countries uphold the rule of law while others choose extractive institutions, even though they are ex-ante identical.This is borne out of two key ...
Bots e o direito eleitoral brasileiro: eleições 2018
(FGV DAPP, 2019-01)
Em eleições democráticas, o voto costuma envolver dois aspectos fundamentais de ponderação: eleitores votam em candidatos por concordarem com seus projetos e por fazerem avaliações positivas de seu histórico e partido, ...
Bots and Brazil´s electoral legal system: 2018 elections
(FGV DAPP, 2019-01)
In democratic elections, voting usually comprises two fundamental empowering aspects: electors vote for candidates because they agree with their projects and have a positive assessment of their background or party, and/or ...
Measuring the welfare of intermediaries in vertical markets
(2018-12-10)
We empirically investigate the welfare of intermediaries in oligopolistic markets, where intermediaries offer additional services. We exploit the unique circumstance that, in our empirical setting, consumers can purchase ...
The choice channel of financial innovation
(2018-11-15)
Financial innovation in recent decades has expanded portfolio choice. We investigate how greater choice a¤ects investors.savings and asset returns. We establish a choice channel by which greater portfolio choice increases ...
Establishing traveling wave in bistable reaction-diffusion system by feedback
(2018-11-08)
Several stains of the intracellular parasitic bacterium Wolbachia limit severely the competence of the mosquitoes Aedes aegypti as a vector of dengue fever and possibly other arboviroses. For this reason, the release of ...