RSS 1.0FGV EPGE - Seminários de Almoço
FGV EPGE - Seminários de Almoço
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The spenders-hoarders theory of capital accumulations, wealth distribution and fiscal policy
2007-09-21This paper proposes a simple OLG model which is consistent with the essential facts about consumer behavior, capital accumulation and wealth distribution, and yields some new and surprising conclusions about fiscal policy. ... -
Turnout and quorum in referenda
2007We analyse the effect of turnout requirement in referenda in the context of a group turnout model. We show that a participation quorum requirement may reduce the turnout so severely that it generates a 'quorum paradox': ... -
Mid-auction information acquisition
2000-10-09This paper studies a model of a sequential auction where bidders are allowed to acquire further information about their valuations of the object in the middle of the auction. It is shown that, in any equilibrium where the ... -
Optimal provision of implicit and explicit incentives in asset management contracts
2005-07-15This paper investigates the importance of the fiow of funds as an implicit incetive provided by investors to portfolio managers in a two-period relationship. We show that the fiow of funds is a powerful incentive in an ... -
Wage inequality and trade liberalization : evidence from Argentina
2000-11Wage inequality has increased substantially in Argentina during the nineties. At the same time during this decade Argentina has gone through a rapid and deep process of trade liberalization. In this paper we try to associate ... -
Do police reduce crime? Estimates using the allocation of police forces after a terrorist attack
2003-05-29An important challenge in the crime literature is to isolate causal effects of police on crime. Following a terrorist attack on the main Jewish center in the city of Buenos Aires, Argentina, in July 1994, all Jewish ... -
Inflation targeting, credibility and coordination aspects
2007-02-09There are plenty of economic studies pointing out some requirements, like the inexistence of fiscal dominance, for inflation targeting framework be implemented in successful (credible) way. Essays on how public targets ... -
Transferências federativas e potência dos contratos: avaliação da lei Robin Hood
2005-06-17Buscando melhorar as condições de vida dos municípios mineiros, o governo estadual mineiro instituiu, em 1995, a lei 12.040, conhecida como Lei Robin Hood. Esta permitia que 25% dos recursos de ICMS a serem distribuídos ... -
Debt and default in a growth model
2006-08-11This paper presents a small open economy model with capital accumulation and without commitment to repay debt. The optimal debt contract specifies debt relief following bad shocks and debt increase following good shocks ... -
Aggregate vs disaggregate data analysis: a paradox in the estimation of money demand function of Japan under the low interest rate policy
2002-03-13We investigate the issue of whether there was a stable money demand function for Japan in 1990's using both aggregate and disaggregate time series data. The aggregate data appears to support the contention that there was ... -
Using irregularly spaced returns to estimate multi-factor models : application to Brazilian equity data
2002Multi-factor models constitute a use fui tool to explain cross-sectional covariance in equities retums. We propose in this paper the use of irregularly spaced returns in the multi-factor model estimation and provide an ... -
The power of the purse : what do the data say on US federal budget allocation to the states?
2004-08-13This paper provides new evidence on the determinants of the allocation of the US federal budget to the states and tests the capability of congressional, electoral and partisan theories to explain such allocation. We find ... -
Do dividends signal more earnings? a theoretical analysis
2003-02The signaling models have contributed to the literature of corporate finance by the formalization of 'the informational content of dividends hypothesis'. However, these models are under criticism of empirical works, as ... -
Wealth composition, endogenous fertility and the dynamics of income inequality
2002-11-14This paper analyzes how differences in the composition of wealth between human and physical capital among families affect fertility choices. These in tum influence the dynamics of wealth and income inequality across ... -
Equivalência ricardiana: evidência empírica para o caso do Brasil
2006-02-17Este trabalho tem por objetivo principal avaliar a existência de equivalência ricardiana no Brasil. Para isto, empregam-se três metodologias distintas. Inicialmente, com base no modelo de Enders e Lee (1990), utilizam-se ... -
Integral representation with convex capacities that are squeeze of (additive) probability measures
2003-10-24In this paper I will investigate the conditions under which a convex capacity (or a non-additive probability which exhibts uncertainty aversion) can be represented as a squeeze of a(n) (additive) probability measure associate ... -
Common factors in Latin America's business cycles
2005-08-19This paper constructs new business cycle indices for Argentina, Brazil, Chile, and Mexico based on common dynamic factors extracted from a comprehensive set of sectoral output, external trade, fiscal and financial variables. ... -
Old-age benefits and retirement decisions of rural elderly in Brazil
2002-12-01I estimate the impact of social security benefits on retirement decisions of rural workers by studying changes in the roles governing social security in Brazil. I focus on a 1991 reform, which brought a reduction in the ...
