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dc.contributor.advisorIachan, Felipe Saraiva
dc.contributor.authorCamêlo, Felipe Diogo
dc.date.accessioned2018-07-16T20:13:16Z
dc.date.available2018-07-16T20:13:16Z
dc.date.issued2018-04-27
dc.identifier.urihttp://hdl.handle.net/10438/24314
dc.description.abstractUsing firm-level data from an administrative Brazilian dataset, I document a few stylized facts regarding capital stock accumulation patterns and investment decisions. Finding evidence largely in favor of micro-level lumpiness of investment as it was found for American firms, I document that there are a few particularities in the behavior of Brazilian firms. First, I document that the distribution of the growth rate of capital is more dispersed, with “fatter” tails. Second, I also show that, as economic activity, the volume of investment and capital stock are more concentrated on a small number of firms, micro-level lumpiness might have a bigger role in understanding aggregate movements. Third, I show that the observable characteristics of Brazilian firms explain a lot more of sudden movements in capital growth when compared to the U.S., after controlling for industry specific characteristics and other variables. Fourth and last, I compute statistical measures related to the investment rate distribution, which show that investment at the firm-level seems to be even “lumpier” in Brazil, with firms investing less on average, while experiencing more episodes of investment spikes and periods of inaction.eng
dc.language.isoeng
dc.subjectInvestment decisionseng
dc.subjectLumpy investmenteng
dc.subjectCapital stockeng
dc.subjectCapital growtheng
dc.subjectCrescimento de capitalpor
dc.subjectDecisões de investimentopor
dc.titleInvestment decisions and capital accumulation: firm-level evidence from Brazileng
dc.typeDissertationeng
dc.subject.areaEconomiapor
dc.contributor.unidadefgvEscolas::EPGEpor
dc.subject.bibliodataInvestimentospor
dc.subject.bibliodataInvestimentos de capitalpor
dc.subject.bibliodataCapital socialpor
dc.subject.bibliodataCapital (Economia)por
dc.contributor.affiliationFGV
dc.degree.date2018-04-27
dc.contributor.memberSantos, Cézar Augusto Ramos
dc.contributor.memberLeite Courseil, Carlos Henrique


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