RSS 1.0FGV EPGE - Ensaios Econômicos
A série de working papers da EPGE, conhecida como Ensaios Econômicos, é composta de artigos em fase de revisão para publicação. Os autores destes artigos buscam críticas, comentários e exposição visando o aperfeiçoamento do trabalho.
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FGV EPGE - Ensaios Econômicos
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Now showing items 161-180 of 823
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A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
2003-03-24A model is presented in which banks accept deposits of fiat money and intermediate capital. Alt though theories about the coexistence of money and credit are inherently difficult, the model offers a simple explanation for ... -
Plano Collor: contra factualidade e sugestões sobre a condução da política monetária-fiscal
1990-05O Plano Collor foi teoricamente imprevisível, pois representou a opção por uma alternativa de alto risco e reduzidas chances de compatibilizar crescimento sustentado com preços estáveis. Da forma como implementado, o Plano ... -
Regional or educational disparities? a counterfactual exercise
2004-03-01This work investigates the impact of schooling Oil income distribution in statesjregions of Brazil. Using a semi-parametric model, discussed in DiNardo, Fortin & Lemieux (1996), we measure how much income diíferences between ... -
Inada conditions imply that production function must be asymptotically Cobb-Douglas
2003-03-25We show that every twice-continuously differentiable and strictly concave function f : R+ → R+ can be bracketed between two C.E.S. functions at each open interval. In particular, for the Inada conditions to hold, a production ... -
An intra-household approach to the welfare costs of inflation (Revised Version, Forthcoming 2006, Estudos Econômicos)
2006-01-01The literature on the welfare costs of ináation universally assumes that the many-person household can be treated as a single economic agent. This paper explores what the heterogeneity of the agents in a household might ... -
Pure strategy equilibria of multidimensional and non-monotonic auctions
2004-11-01We give necessary and sufficient conditions for the existence of symmetric equilibrium without ties in interdependent values auctions, with multidimensional independent types and no monotonic assumptions. In this case, ... -
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 to ... -
Distributive effects of Brazilian structural reforms
2002-12-01 -
Welfare characterization of monetary-applied models and three implications
2000-04-01This paper demonstrates that the applied monetary models - the Sidrauski-type models and the cash-in-advance models, augmented with a banking sector that supplies money substitutes services - imply trajectories which are ... -
Endogenous time-dependent rules and the costs of disinflation with imperfect credibility
2003-10-09This paper examines the output effects of monetary disinflation in a model with endogenous time-dependent pricing rules and imperfect credibility of the disinflation policy. We find that these features interact to generate ... -
A panel data approach to economic forecasting: the bias-corrected average forecast
2007-09-01In this paper, we propose a novel approach to econometric forecasting of stationary and ergodic time series within a panel-data framework. Our key element is to employ the (feasible) bias-corrected average forecast. Using ... -
The Brazilian 1994 stabilization plan: an analytical view
1997-07The Real Plan has succeeded in stabilizing the Brazilian inflation. The consumer price inflation has been reduced from 11260 percent per year, in June 1994, to an estimate of 8 percent in 1997. The lower inflation resulted ... -
Hiperinflação: um arcabouço teórico
2001-01-01Este trabalho apresenta uma teoria da hiperinflação na qual não há necessidade de apelar-se para hipóteses casuísticas, como expectativas adaptativas, ajustamento parcial no mercado monetário ou profecias que se autorealizam. ... -
Robustness of stationary tests under long-memory alternatives
2004-04-01This paper investigates the presence of long memory in financiaI time series using four test statistics: V/S, KPSS, KS and modified R/S. There has been a large amount of study on the long memory behavior in economic and ... -
A substituição de moeda no Brasil: a moeda indexada
1993-11-01 -
What happens after the central bank of Brazil increases the target interbank rate by 1%?
2005-03-15I start presenting an explicit solution to Taylorís (2001) model, in order to illustrate the link between the target interest rate and the overnight interest rate prevailing in the economy. Next, I use Vector Auto Regressions ...
