This paper explores the link between an environmental policy and economic growth employing an extension of the Neoclassical Growth Model. We include a state equation to renewable natural resources, and consider natural resources as a component of the aggregate productivity. It is assumed that...

Moral concepts affect crime supply. This idea is modelled assuming that illegal activities is habit forming. We introduce habits in a intertemporal general equilibrium framework to illegal activities and compare its outcomes with a model without habit formation. The findings are that habit (i)...

The main purpose of this paper is the empirical investigation of the business cycles responses of each of the five Brazilian regions to monetary policy innovations and other shocks. We applied a methodology integrating unobserved components and vector auto-regressions (VAR). We identified not...

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. From the results obtained, we...

The motivation of this article bases on the controversy in the recent literature about economic growth, sustainable development and environmental protection, started with the empirical evidences presented by Grossman and Krueger (1995, 1996), where the relationship between per capita GDP and...

Regarding the importance of fiscal policy in smoothing the impact of shocks such as the international financial and economic crises, the paper analyzes the sustainability of the Brazilian fiscal policy by taking into consideration the possibility of multiple endogenous structural breaks on the...

This paper explores the link between environmental policy and economic growth by employing an extension of the AK Growth Model. We include a state equation for renewable natural resources. We assume that the change in environmental regulations induces costs and that economic agents also derive...