We assess the political support for parametric reforms of the Pay-As-You-Go pension system following a downward fertility shock. Using a continuous time overlapping generations model, we show that, depending on the shape of the utility function, a majority of the population may favor an increase...

We assess the political support for parametric reforms of the pay-as-you-go pension system following a drop in the fertility rate. Using a continuous-time overlapping-generations model, we argue that reforms that consist in cutting pension benefits or increasing the retirement age are likely to...

Studies about convergence in Brazil have concentrated in the ß and (-convergence analysis. In this thesis is presented a new methodolgy to study convergence, that analyses how the income distribution among brazilian states and municipalities evolves over the time. Three kinds of estimation are...