We study whether differences in management can explain variation in productivity and how more effective managers can be recruited in absence of high-powered incentives. To investigate this, we first extend the canonical ...

How is aggregate risks optimally shared between workers and retirees? We break this question in two parts. First, how ought risk to be shared between two groups of agents: one which must be provided incentives to make ...

This paper proposes a Önancial approach to economic forecasting which can be applied to data bases of surveys of forecasts. We model the forecasting decision of an individual from Örst principles (i.e., microfounded) and ...

On June 24, 2011, Law 12.431/11 was introduced, which granted a reduction of the Income Tax rate on bonds issued with the purpose of financing infrastructure projects. Since then, the so-called "Infrastructure Bonds" have ...

The mixed causal-noncausal autoregressive (MAR) model has been proposed to estimate time series processes involving explosive roots in the autoregressive part, as it allows for stationary forward and backward solutions. ...

Do the Revelation and Taxation Principles hold for multi-person householDo the Revelation and Taxation Principles hold for multi-person households? We provide a positive answer to the former and a negative to the latter ...

According to Bohn (1995, 2008), the conventional sustainability tests, based on analyzing cointegration between government revenues and expenditures, are inconclusive for determining the sustainability of fiscal policy. ...

Background: This work presents results concerning the impact of some variables mentioned in the literature on the daily variation rate of cases (per million inhabitants) of COVID-19, based on a large sample of countries ...

Biofuels offer one approach for reducing carbon emissions in transportation. However, the agricultural expansion needed to produce biofuels may endanger tropical forests. I use a dynamic model of land use to disentangle ...