RSS 1.0FGV EPGE - Seminários de Pesquisa Econômica
Os seminários da EPGE apresentam artigos acadêmicos dos pesquisadores da Escola e de outros centros brasileiros e internacionais.
FGV EPGE - Seminários de Pesquisa Econômica
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Duality with time-changed Lévy processes
2005-04-14In this paper we study the pricing problem of derivatives written in terms of a two dimensional time{changed L¶evy processes. Then, we examine an existing relation between prices of put and call options, of both the European ... -
Do borrowing constraints decrease intergenerational mobility? evidence from Brazil
2003-11-06In this paper, we find evidence that suggests that borrowing constraints may be an important determinant of intergenerational mobility in Brazil. This result contrasts sharply with studies for developed countries, such as ... -
Conditional cash transfers, schooling and child labor : micro-simulating bolsa escola
2003-08-21Cash transfers targeted to poor people, but conditional on some behavior on their part, such as school attendance or regular visits to health care facilities, are being adopted in a growing number of developing countries. ... -
Credible managerial vision
2003-01-30We develop a model in which managers choose whether or not to reveal their 'vision' for the future of their companies. Visionary managers are valuable because they generate incentives for workers to develop profitable ... -
Escolaridade e demanda relativa por trabalho : uma avaliação para o Brasil nas décadas de 80 e 90
2002-05-09Este artigo desenvolve um modelo de oferta e demanda de trabalho para decompor a evolução dos salários relativos, entre trabalhadores qualificados e intermediários e entre trabalhadores intermediários e não qualificados, ... -
Sovereign debt with adverse selection : a quantitative approach
2002-10-17We construct a dynamic equilibrium model to quantitatively study sovereign debt with contingent services and country risk spreads such that the benefits of defaulting are tempered by higher interest rates in the future. ... -
Robust statistical modeling of portfolios
2002-03-14Atypical points in the data may result in meaningless e±cient frontiers. This follows since portfolios constructed using classical estimates may re°ect neither the usual nor the unusual days patterns. On the other hand, ... -
Workplace diversity and incentive contracts : theory and evidence
2002-02-25This paper presents a simple theory of the provision of incentives in firms in which the principal optimally chooses both compensation contracts and the composition of the work force. Assuming that individuals display group ... -
Inflation persistence and flexible prices
2001-11-19The inability of rational expectation models with money supply rules to deliver inflation persistence following a transitory deviation of money growth from trend is due to the rapid adjustment of the price level to expected ... -
What really matters in auction design
2001-07-31The most important issues in auction design are the traditional concerns of competition policy preventing collusive, predatory, and entry-deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable ... -
Generalists versus specialists in organizations
2001-07-19In this paper, we discuss the trade-o¤ between specialization and coordination in an organizational design problem. Most papers on the assignment of heterogeneous managers to di¤erent hierarchic levels emphasize the role ... -
Affiliation, equilibrium existence and the revenue ranking of auctions
2007-03-01We consider private value auctions where bidders’ types are dependent, a case usually treated by assuming affiliation. We show that affiliation is a restrictive assumption in three senses: topological, measure-theoretic ... -
Regional subsidies and industrial prospects of lagging regions
2007-03-12Large and sustained differences in economic performance across regions of developing countries have long provided motivation for fiscal incentives designed to encourage firm entry in lagging areas. Empirical evidence in ... -
The optimality of the Friedman rule when some distorting taxes are exogenous
2005-05-19This paper investigates the optimality of the Friedman rule in a two-sector small open economy. That policy prescription is found to be a necessary condition for Pareto efficiency. If a planner can select all conceivable ... -
Imperfectly credible disinflation under endogenous time-dependent pricing
2005-09-08The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. Therefore, the study of how policymakers’ credibility affects the outcome of an announced disinflation should not ... -
Two heads may not be better than one : corporate board structure, managerial self-dealing,and common agency
2004-09-16This paper compares the effects on corporate performance and managerial self-dealing in a situation in which the CEO reports to a single Board that is responsible for both monitoring management and establishing performance ...
