Este artigo desenvolve um modelo de crescimento econômico endógeno com dívida pública onde o governo pode alocar seus gastos de diferentes formas. Assim, para aumentar gastos em educação ou infra-estrutura o governo tem de se endividar. Obtêm-se as condicões fiscais pelas quais tais...

The objective of this work is to describe the behavior of the economic cycle in Brazil through Markov processes which can jointly model the slope factor of the yield curve, obtained by the estimation of the Nelson-Siegel Dynamic Model by the Kalman filter and a proxy variable for economic...

In two recent cases involving the University of Michigan, the Supreme Court examined whether race should be allowed to play an explicit role in the admission decisions of schools. The primary argument in these court cases and others has been that racial diversity strengthens the quality of...

The main objective of this paper was to visualize the relation between government spending on basic education and the human capital accumulation process, observing the impacts of this spending on individual investments in higher education, and on economic growth. It is used an...

A participação da indústria de transformação no PIB brasileiro vem declinando desde o início da década de 80, e esta tendência vem se acentuando juntamente com a apreciação da taxa de câmbio observada nos últimos anos. Neste artigo analisamos este processo de desindustrialização,...

This article develops an econometric model in order to study country risk behavior for six emerging economies (Argentina, Mexico, Russia, Thailand, Korea and Indonesia), by expanding the Country Beta Risk Model of Harvey and Zhou (1993), Erb et. al. (1996a, 1996b) and Gangemi et. al. (2000)....

The purpose of this paper is to test the hypothesis of long-run purchasing power parity (PPP) for all Latin American countries. These countries share similar economic history and contagious effects from currency crises, which might lead to comovements in their real exchange rates. New time...

In this paper, we examine the impacts of the reform in the rural pension system in Brazil in 1991 on schooling and health indicators. In addition, we use the reform to investigate the validity of the unitary model of household allocation by testing if there were uneven impacts on those...

O objetivo do presente trabalho é analisar as características empíricas de uma série de retornos de dados em alta freqüência para um dos ativos mais negociados na Bolsa de Valores de São Paulo. Estamos interessados em modelar a volatilidade condicional destes retornos, testando em...

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 stability depends crucially on the speed of information transmission in...