Browsing by Author "Garcia Junior, Renê"

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A consumption CAPM with a reference level

Garcia Junior, Renê
2006-03-30

We study an intertemporal asset pricing model in which a representative consumer maximizes expected utility derived from both the ratio of his consumption to some reference level and this level itself. If the reference ...
A reconstrução do marco regulatório do sistema financeiro do Brasil: os mercados de capitais, de seguros e previdência privada

Garcia Junior, Renê
2003-11-14

The major objective of this paper is to identify, in the light of economic theory and of recent Brazilian and foreign institutional experiences, the best alternative for the reform of the regulatory framework of the domestic ...