Browsing FGV EESP - Escola de Economia de São Paulo by Author "Araujo, Luis Fernando Oliveira de"

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    • A coordination approach to the essentiality of money 

      Araujo, Luis Fernando Oliveira de; Guimarães, Bernardo de Vasconcellos
      2015-03-16
      The essentiality of money is commonly justi ed on e¢ ciency grounds. In this paper, we propose an alternative view on the essentiality of money. We consider an economy with llimited monitoring where agents have to coordinate ...

    • Coordination in the use of money 

      Guimarães, Bernardo de Vasconcellos; Araujo, Luis Fernando Oliveira de
      2013-08-02
      Fundamental models of money, while explicit about the frictions that render money essential, are silent on how agents actually coordinate in its use. This paper studies this coordination problem, providing an endogenous ...

    • The effect of options on coordination 

      Guimarães, Bernardo de Vasconcellos; Araujo, Luis Fernando Oliveira de
      2013-08-02
      This paper studies how constraints on the timing of actions affect equilibrium in intertemporal coordination problems. The model exhibits a unique symmetric equilibrium in cut-o¤ strategies. The risk-dominant action of the ...

    • Informal wages in an economy with active labor courts 

      Araujo, Luis Fernando Oliveira de; Ponczek, Vladimir Pinheiro
      2012-09-12
      In most developing countries, job regulations and the justice branch interfere on several aspects of labor contracts. Inspired by this fact, we build a model that explores the role of labor courts in the determination of ...

    • Limited memory and the essentiality of money 

      Araujo, Luis Fernando Oliveira de; Camargo, Bráz Ministério de
      2010-06-25
      This paper investigates the relationship between memory and the essentiality of money. We consider a random matching economy with a large finite population in which commitment is not possible and memory is limited in the ...

    • Monetary equilibrium with decentralized trade and learning 

      Araujo, Luis Fernando Oliveira de; Camargo, Bráz Ministério de
      2010-06-25
      This paper analyzes the stability of monetary regimes in an economy where fiat money is endogenously created by the government, information about its value is imperfect, and learning is decentralized. We show that monetary ...

    • Money versus memory 

      Araujo, Luis Fernando Oliveira de; Camargo, Bráz Ministério de
      2010-06-25
      A well–established fact in monetary theory is that a key ingredient for the essentiality of money is its role as a form of memory. In this paper we study a notion of memory that includes information about an agent’s past ...