RSS 1.0FGV EPGE - Seminários de Almoço
FGV EPGE - Seminários de Almoço
Envios recentes
Itens para a visualização no momento 21-40 of 64
-
Optimal water use: is anyone getting the right incentives in California?
2005-08-26This paper discusses ~he widespread inefficiency in water pricing today and uses the State of California as an example. After solving the Planner' s Problem I conclude that water for irrigation should cost more than for ... -
O prêmio pela maturidade na estrutura a termo das taxas de juros brasileiras
2003-02Este artigo estuda a validade da Hipótese das Expectativas (HE) racionais para o Brasil, utilizando dados diários de Julho de 1996 a Dezembro de 2002 para prazos entre 1 dia e 1 ano. (i) Os coeficientes do diferencial ... -
The long-run economic impact of AIDS
2003-02-10This paper studies the long-run impact of HIV / AIDS on per capita income and education. We introduce a channel from HIV / AIDS to long-run income that has been overlooked by the literature, the reduction of the incentives ... -
Measuring the TFP costs of barriers to trade
2006-06-02 -
Information learning and the stability of fiat money
2004-08We analyze the stability of monetary regimes in a decentralized economy where fiat money is endogenously created, information about its value is imperfect, and agents only learn from their personal trading experiences. We ... -
Deunionization in the US: a panel data analysis from 1973 to 1999
2005-07-29There are four different hypotheses analyzed in the literature that explain deunionization, namely: the decrease in the demand for union representation by the workers; the impaet of globalization over unionization rates; ... -
Do insurance defrauders want to be punished?
2000-08-23We analyze a Principal-Agent model of an insurer who faces an adverse selection problem. He is unable to observe if his client has a high risk or a low risk of having an accident. At the underwriting of the contract, the ... -
Why designate market makers? affirmative obligations and market quality
2006-09-29We study why most financiaI markets designate one or more agents who precommit to provide more liquidity than they would endogenously choose, and identify two reasons that such affirmative obligations can improve welfare. ... -
Endogenous borrowing constraints and default when markets are incomplete
2001-09-17Incomplete markets and non-default borrowing constraints increase the volatility of pricing kernels and are helpful when addressing assetpricing puzzles. However, ruling out default when markets are in complete is suboptimal. ... -
Evidence on the relationship between incentives and exogenous risk
2002-09-26Theoretical models on moral hazard provide competing predictions on the incentive-risk relationship. These predictions are derived under the assumptions of homogeneous agents and exogenous risk. However, the existing ... -
Formation of social capital in Eastern Europe: explaining the gap vis-à-vis developed countries
2004-06-25Recent Eurobarometer survey data are used to document and explain the leveI of social capital in thirteen new members and fifteen current members of the European Union. Social capital in Eastern Europe - measured by ... -
Public debt management, monetary policy and financial institutions
2002-05-28Despite the large size of the Brazilian debt market, as well the large diversity of its bonds, the picture that emerges is of a market that has not yet completed its transition from the role it performed during the ... -
The impact of property rights and its limits
2003-11-05The empirical evaluation of the effect of land property rights typically suffers from selection problems. The allocation of property rights across households is usually not random but based on wealth, family characteristics, ... -
How much debtors' punishment?
2006-04-28This paper investigates how the bankruptcy exemptions applied by the Personal Bankruptcy Law in each American state affect the aggregated leveI of individuaIs and small businesses' loans. Higher leveIs of bankruptcy ... -
Efficient semiparametric estimation of quantile treatment effects
2003-01This paper presents calculations of semiparametric efficiency bounds for quantile treatment effects parameters when se1ection to treatment is based on observable characteristics. The paper also presents three estimation ... -
On the efficiency of the Argentinean electricity wholesale market
2002-05-30This paper discusses two key aspects regarding the efficiency of the Argentinean Electricity Market. Using hourly data on prices, marginal costs, and operational status of generators, it will be argued that, unlike the ... -
Buy-or-sell auctions
2003-08-19This paper develops a game theoretic model of a 'Buy-or-Sell' auction. Participants have to submit both a bid and an offer price for up to one of the many units of the good being auctioned. The bid-ask spread is set in ... -
Firm financial constraints and the impact of monetary policy: evidence from financial conglomerates
2002-02-12Building on recent evidence on the functioning of internal capital markets in financial conglomerates, this paper conducts a novel test of the balance sheet channel of monetary policy. It does so by comparing monetary ... -
Debt management in Brazil: evaluation of the Real Plan and challenges ahead
2002The Brazilian domestic debt has posed two challenges to policy-makers: it has grown very fast and its maturity is extremely short. This has prompted fears that a default or a compulsory lengthening scheme would be imposed. ...
