RSS 1.0FGV EESP - Textos para Discussão / Working Paper Series
FGV EESP - Textos para Discussão / Working Paper Series
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Investment-specific technological change and the Brazilian macroeconomy
2014-12-12We studied the effects of changes in banking spreads on distributions of income, wealth and consumption as well as the welfare of the economy. This analysis was based on a model of heterogeneous agents with incomplete ... -
Growth and distribution: a revised classical model
2014-10-29This paper discusses distribution and the historical phases of capitalism. It assumes that technical progress and growth are taking place, and, given that, its question is on the functional distribution of income between ... -
Sovereignty, exchange rate and the Euro crisis
2014-10-29This paper presents an interpretation of the European crisis based on the balance of payments imbalances within the Eurozone and highlighting the role of the 'internal' real exchange rates as a primary cause of the crisis. ... -
Do capital controls boost EME´s resilience to financial crises?
2014-10-23Capital controls are again in vogue as a number of emerging markets have reintroduced these measures in recent years in response to a 'flood' of international capital. Policymakers use these tools to buttress their economies ... -
A quase-estagnação brasileira e sua explicação novo-desenvolvimentista
2014-09-29The Brazilian economy is quasi-stagnant since 1980, with exception of the short 2006-2010 boom, caused by the high prices of the commodities. Up to 1994, the causes were the major financial crisis of the 1980s and the ... -
Desenvolvimento, progresso e crescimento econômico
2014-06-24O autor define neste ensaio o progresso ou o desenvolvimento humano como o gradual alcance dos cinco objetivos políticos que as sociedades modernas definiram para si próprias (segurança, liberdade individual, bem-estar, ... -
Estado capaz (desenvolvimentista) e democracia em países pré-industriais
2014-06-24This paper distinguishes three types of countries (rich, middle-income, and pre-industrial) and discusses the problems of state capability and the quality of democracy in the later, which include the poor countries. A ... -
The access to demand
2014-05-23In this paper I argue that, in developing countries, sufficient aggregate demand is not enough to motivate investment and achieve full employment. Besides, according to the Keynesian developmental macroeconomics under ... -
O mercado de câmbio brasileiro pela ótica da microestutura
2014-05-05O objetivo deste trabalho é investigar se a relação entre a taxa de câmbio spot e o fluxo de ordens deriva do fato do fl uxo agregar informações a respeito dos fundamentos econômicos dispersos na economia. Para efetuar ... -
Os determinantes macroeconômicos da estrutura a termo das expectativas de inflação no Brasil
2014-05-05This paper aims to analyze the dynamics of inflation expectations according to macroeconomics conditions. To this end, we extract the expected inflation curve implied by indexed bonds and then estimate a dynamic factor ... -
Títulos de dívida corporativa de empresas brasileiras: investir em emissões do mercado interno ou externo?
2014-05-05The goal of this study is to analyze the yield difference between corporate debt issuance of Brazilian companies in local and foreign markets. From the perspective of the investor, we attempt to answer whether it is better, ... -
Prêmio por controle no mercado brasileiro
2014-05-05This study aims to estimate the control premium in the Brazilian stock market, based on the dual-class price differential. We first show that the average control premium is positive from July 01, 2003 to June 28, 2013. ... -
The finite-sample size of the BDS test for GARCH standardized residuals
2014-05-05This paper uses a multivariate response surface methodology to analyze the size distortion of the BDS test when applied to standardized residuals of rst-order GARCH processes. The results show that the asymptotic standard ... -
Negociação com informação diferenciada em ADRs da América Latina
2014-05-05Usamos uma série de ADRs de países da América Latina para replicar o estudo de Easley, Hvidkjaer e O’Hara (2002) sobre o efeito da negociação com informação diferenciada nos retornos dos ativos financeiros. Estimamos a ... -
Profundidade de mercado na BM&FBovespa
2014-05-05O objetivo desse trabalho é estimar a medida dinâmica VNET de profundidade de mercado para ações brasileiras a partir de dados de transação. VNET mede a diferença no número de ações compradas e vendidas no intervalo de ... -
Credit shocks and monetary policy in Brazil: a structural FAVAR approach
2014-05-05This paper investigates the implications of the credit channel of the monetary policy transmission mechanism in the case of Brazil, using a structural FAVAR (SFAVAR) approach. The term structural comes from the estimation ... -
Um estudo sobre os ciclos de negócios brasileiro (1900-2012)
2014-04-02O presente artigo estuda os ciclos de negócios brasileiro no período dos anos 1900 até 2012. Como a série trimestral do PIB real só começa em 1980 é construida a série para o período de 1900 a 1979, utilizando um modelo ... -
Os custos dos congestionamentos na cidade de São Paulo
2014-04-02Em apenas dez anos, entre 2002 e 2012, 1,6 milhão de carros passaram a circular na cidade de São Paulo. Isso equivale a uma média de 13 mil automóveis a mais todo mês nas ruas do município. Por outro lado, os investimentos ... -
Taxing hard-to-tax markets
2014-02-12Tax enforcement costs constrain the government s ability to observe economic transactions, giving rise to hard-to-tax (HTT) markets. In these markets transactions are untaxed and consumers are better o¤ than in taxed ... -
Gender stereotypes in politics: what changes when a woman becomes the local political leader?
2014-02-12This study documents how the presence of a woman in an executive political role affects the gender stereotype of women in politics. We use Brazilian electoral data and restrict our focus to close mayoral races (using an ...
