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
Recently added
Now showing items 81-100 of 427
-
All-pay auctions with endogenous asymmetries
2004-03-18We study N-bidders, asymmetric all-pay auctions under incomplete information. First, we solve for the equilibrium of a parametric model. Each bidder’s valuation is independently drawn from an uniform [0, αi] where the ... -
Rent dissipation, political viability and the strategic adoption of free trade agreements
2002-02-26This paper studies the political viability of free trade agreements (FTAs). The key element of the analysis is the 'rent dissipation' that these arrangements induce: by eliminating intra-bloc trade barriers, an FTA reduces ... -
Existence of nash equilibrium in competitive nonlinear pricing games with adverse selection
2003-10-09We show that for a large class of competitive nonlinear pricing games with adverse selection, the property of better-reply security is naturally satisfied - thus, resolving via a result due to Reny (1999) the issue of ... -
The effects of government deficit on equilibrium real exchange rates and stock prices
2003-05-15This paper studies the effect of government deficits on equilibrium real exchange rates and stock prices. The theoretical part modifies a two-country cash-in-advance model like used in Lucas(1982) and Sargent(1987) in order ... -
Decision rules and information provision : monitoring vs manipulation
2001-12-06We analyze the contractual design problem of a principal who delegates decision-making and information provision. The principal faces two tasks: he has to decide the level of discretion to be granted to the decision-maker ... -
Business cycles in emerging economies : the role of interest rates
2001-10-25This paper documents the empirical relation between the interest rates that emerging economies face in international capital markets and their business cycles. It shows that the patterns observed in the data can be interpreted ... -
Flypaper effect revisited : evidence for tax collection efficiency in Brazilian municipalities
2007-11-29This paper has two purposes. First, to construct efficiency scores in tax collection for Brazilian municipalities in 2004, taking into consideration two outputs: amount of per capita local tax collected -tax revenue- and ... -
Informational spillovers in the pre-1914 London sovereign debt market
2007-06-21We document a novel type of international financial contagion whose driving force is shared financial intermediation. In the London peripheral sovereign debt market during pre-1914 period financial intermediation played a ... -
Skilled labor, unskilled labor, and economic growth
2006-03-23We assess the effects of the imperfect substitution between skilled and unskilled labor on economic growth in a model in which physical capital and skilled labor can be accumulated. It is shown that economies with higher ... -
Tree-structured smooth transition models
2005-11-03The goal of this paper is to introduce a class of tree-structured models that combines aspects of regression trees and smooth transition regression models. The model is called the Smooth Transition Regression Tree (STR-Tree). ... -
Testing covariance stationarity
2005-10-27In this paper, we show that the widely used stationarity tests such as the KPSS test has power close to size in the presence of time-varying unconditional variance. We propose a new test as a complement of the existing ... -
Collateral or utility penalties ?
2005-05-12In a two-period economy with incomplete markets and possibility of default we consider the two classical ways to enforce the honor of financial commitments: by using utility penalties and by using collateral requirements ... -
Information asymmetry and competition in credit markets: the pricing of overdraft loans in Brazil
2005-02-17This paper evaluates how information asymmetry affects the strength of competition in credit markets. A theory is presented in which adverse selection softens competition by decreasing the incentives creditors have for ... -
Does money in schools matter? evaluating the effects of FUNDEF on wages and test scores in Brazil
2004-06-17In this paper we investigate the effects of the 1998 reform in the funding of fundamental education in Brazil (FUNDEF) on the relative wages of public school teachers and on the relative proficiency of public school pupils. ... -
Modelling and forecasting the volatility of brazilian asset returns: a realized variance approach
2004-06-03The goal of this paper is twofold. First, using five of the most actively traded stocks in the Brazilian financial market, this paper shows that the normality assumption commonly used in the risk management area to describe ... -
Auctions with options for re-auction
2003-01-23We examine the role of seller bidding and reserve prices in an infinitely repeated independent-private-value (IPV) ascending-price auction. The seller has a single object that she values at zero. At the end of any auction ...
