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Bailey's rule for the welfare of inflation: a theoretical foundation
(Escola de Pós-Graduação em Economia da FGV, 1999-12-01)
This paper demonstrates that for a very general class of monetary models (the Sidrauski type models and the cash-in-advance models), Bailey’s rule to evaluate the welfare efect of infation is in deed accurate. The result ...
Housing development in Latin America and the Caribean, its measuring and its determinants
(1999-11-01)
This text briejly describes the Housing Development lndex (HDI). Following a concise introduction on the reasons for this research, HDI's methodology, characteristics, properties and databases supporting its calculation ...
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 ...
Discrete public goods with incomplete information
(Escola de Pós-Graduação em Economia da FGV, 1999-10-07)
Optimal auctions in a general model of identical goods
(Escola de Pós-Graduação em Economia da FGV, 1999-10-01)
In this paper I study optimal auctions of identical goods. There is synergy in the number of goods and independent bidder’s signals.
Synergies and price trends in sequential auctions
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 1999-10-01)
In this paper we consider sequential auctions where an individual’s value for a bundle of objects is either greater than the sum of the values for the objects separately (positive synergy) or less than the sum (negative ...
Volatility modelling in the forex market: an empirical evaluation
(Escola de Pós-Graduação em Economia da FGV, 1999-10)
We compare three frequently used volatility modelling techniques: GARCH, Markovian switching and cumulative daily volatility models. Our primary goal is to highlight a practical and systematic way to measure the relative ...
Finance and changing trade patterns in Brazil
(Escola de Pós-Graduação em Economia da FGV, 1999-09-24)
On the growth effects of barriers to trade
(Escola de Pós-Graduação em Economia da FGV, 1999-09-22)
We study the macroeconomic effects of international trade policy by integrating a Hecksher-Ohlin trade model into an optimal-growth framework. The model predicts that an open economy will have higher factor productivity ...
Segmentação, fragmentação e composição de ordens no mercado de capitais brasileiro : os efeitos da listagem de ações de empresas brasileiras no mercado norte- americano através de recibos de depósito de ações
(Escola de Pós-Graduação em Economia da FGV, 1999-09-02)
