Untitled - Escola de Economia de São Paulo
Transcription
Untitled - Escola de Economia de São Paulo
1 2 3 TABLE OF CONTENTS 04 Department Overview 06 Graduate Program Requirements 11 Fields of Research 35 • Applied Microeconomics • Econometrics • Economic Theory • Financial Economics • Empirical Finance • Macroeconomics and Intenational Economics • Public Economics Faculty Members 4 DEPARTMENT overview For almost 70 years, FGV Foundation has helped to increase the economic development, social fairness, and international presence of Brazil through the production of studies that analyze government policies, help solve possible impasses and find groundbreaking solutions, make predictions and forecast scenarios, and contribute to academic knowledge and theoretical discussions. FGV also acts as a bridge between society and policy makers by encouraging discussion of such policies in its books, journals, and academic publications, and through its presence in both the national and international media. It is precisely this role that has helped to build FGV’s growing international reputation, resulting in invitations to work outside Brazil. In 2012, FGV was named one of the world’s 30 top think tanks by the Global Go To Think Tank rankings produced by the University of Pennsylvania, and was the only Brazilian institution of higher education considered among the 100 best in the world by a similar ranking from The New York Times. The Sao Paulo School of Economics - FGV is one of the leading economics departments in Latin America. Currently, the school has more than 20 full-time professors, all of which are actively involved in academic research. The research conducted at the school covers a broad range of topics, including: Macroeconomics; Public Finance; International Economics; Microeconomics; Econometrics; Industrial Organization; Labor Economics; and Finance. 5 Our faculty has published extensively and in some of the most important journals in the profession, such as: Econometrica; American Economic Review; Journal of Political Economy; Quarterly Journal of Economics; Review of Economic Studies; Journal of Monetary Economics; Review of Economics and Statistics; Journal of Economic Theory; Journal of Econometrics; Economic Journal; Journal of International Economics; European Economic Review; Journal of Labor Economics; International Economic Review; Games and Economic Behavior; and Journal of Development Economics. Our faculty members have also received many grants and awards, and either serve or have served as members of the editorial boards of a number of highly respected academic journals. Our Ph.D. Program prepares students of high promise for productive and stimulating careers in academia, the government, and the private sector. Courses and seminars offered by the department foster an intellectually active and stimulating environment. Students are expected to devote themselves full-time to the program. 6 Graduate Program Requirements The Department offers a program of study leading to the Ph.D. degree. The program includes courses and comprehensive examinations in the three “Core” subjects of Macroeconomics, Microeconomics and Econometrics. In addition to the Core, Ph.D. requirements include demonstration of competence in Specialized Fields of concentration and the approval of a Thesis Proposal, and the completion of the Doctoral Thesis. The usual load is three courses per quarter for two years; this permits completion of twelve courses during the regular academic year. Foreigners admitted to São Paulo School of Economics FGV/EESP Programs’ are required to provide the Registration Office with specific documents in order to be enrolled in courses: Temporary Visa Vitem IV, RNE and CPF. For further information please refer to: http://economicssp.fgv.br/graduate-program/admission. 7 Core Courses (First Year) All students must take the following 14 core courses: Probability and Statistics; Mathematics for Economists; Microeconomics I to IV; Econometrics I to IV; Macroeconomics I and II, and 2 out of the following 5 courses in macroeconomics: Macroeconomics III; Macroeconomics IV; Topics in Macroeconomics; Economic Growth; and Topics in Economic Growth. Students entering the Ph.D. program are recommended to take the core courses during their first year of study in order to acquire a firm foundation for their subsequent work. 8 SECOND YEAR Besides satisfying the core course requirements, each student must take 2 additional courses: Applied Microeconomics; Applied Macroeconomics. Students must also take a minimum of 10 field courses. The following field courses are offered regularly at the school: Monetary Economics; Public Sector Economics; International Economics I and II; International Finance; Industrial Organization I and II; Law and Economics; Advanced Microeconomics; Economics of Education; Labor Economics; Development Economics I and II; Structural Econometrics; Microeconometrics I and II; Topics in Time Series Econometrics; Corporate Finance I and II; Asset Pricing I and II; Empirical Finance I and II; Computation methods in Finance Behavioral Economics; Behavioral Finance; In addition, students are required to register for the following 2 courses at appropriate stages of their study: Research Seminar; Dissertation Seminar. 9 Third & Fourth Years Students must decide on a thesis topic and present a proposal of their thesis at a dissertation seminar by the end of their third year. A student’s presentation at a dissertation seminar is subject to approval by the faculty. A student whose presentation is not approved by the department’s faculty must present again at a dissertation seminar in the following semester. Students must complete their doctoral thesis by the end of their fourth year. The dissertation defense is a public lecture and a student must have his thesis approved by his/her dissertation committee. Students are expected to attend the weekly department seminars during their third and fourth years. 10 Recommended Plan of Study The recommended plan of study is as follows. Note that depending on their fields of interest and on the department’s field course offerings in a given year, students may not be able to finish all their courses by the end of their second year. Year 1 Year 2 Preparation Courses (January-February) Autumn Quarter (March-May) Probability and Statistics Applied Macroeconomics Mathematics for Economists 2 Field Courses Autumn Quarter (March-May) Winter Quarter (June-July) Microeconomics I 3 Field Courses Macroeconomics I Econometrics I Spring Quarter (August-September) 3 Field Courses Winter Quarter (June-July) Microeconomics II Summer Quarter (October-December) Macroeconomics II Applied Microeconomics Econometrics II 2 Field Courses Spring Quarter (August-September) Year 3 Microeconomics III Research Seminar and presentation of a Thesis Econometrics III Proposal Seminar. Macroeconomics III or Economic Growth. Year 4 Summer Quarter (October-December) Microeconomics IV Econometrics IV Macroeconomics IV, or Topics in Macroeconomics, or Topics in Economic Growth. Completion of the Doctoral Thesis. 11 FIELDS OF RESEARCH Applied Microeconomics Development Economics Development Economics is the field that studies the theories and problems related to economic problems of developing economics. It includes many subfields such as economics of education, labor economics, crime and health economics. In Economics of Education, students learn how to use the economic concepts and models to understand economic problems, like voucher policies, the educational production function, accountability policies, etc. Labor Economics includes labor demand and supply, matching models for firms and employees, informal labor markets, labor regulation, etc. In crime, students learn how to use economic models to understand corruption, money fraud as well as institutional measures to deal with these problems, like, regulatory and enforcement of government agencies. Health economics uses the economic models to study health care plans, health care system, demand and supply for medical services, etc. All the subfields deal not only with theoretical models to understand the phenomena of interest but also introduce students to statically analysis of data problems. There is a group of professors specialized in these different subfields. Rodrigo Soares works in health economics. Vladimir Ponczek studies problems related to labor economics and education. André Portela works with many topics in economics of education, labor economics and crime. Cristine Pinto studies different topic in education. 12 Industrial Organization Sao Paulo School of Economics regularly offers two courses in Industrial Organization. The first covers the main topics on the strategic behavior of firms, such as standards of competition, price and differentiation strategies, vertical and horizontal coordination, and entry deterrence. The course includes theory and empirical applications in demand estimation, models of entry, and collusion. The second course is oriented to public policy, particularly to competition policy and regulation, and explores additional topics of industrial organization relevant for public policy, such as innovation, firm boundaries, network externalities and multi-sided platforms. Depending on the number of interested students, additional courses related to Industrial Organizations may be offered, on topics such as structural econometric methods in Industrial Organization. Currently, two faculty members carry out research in Industrial Organization and related fields. Klenio Barbosa has a consistent research on procurement and public auctions, using both applied contract theory and empirical analysis. He also applies himself to topics such as the economics of banking and corporate governance. João Paulo Pessoa is our new assistant professor and researches on productivity and competition with special interest on trade as well. 13 Selected Publications of our Faculty Members access to Justice and entrepreneurship: evidence from brazil’s Special Civil tribunals Rodrigo Soares (with Guilherme Lichand) Journal of Law and Economics, forthcoming how beliefs about hiV affect risky behaviors: evidence from Malawi Áureo de Paula (with Gil Shapira and Petra Todd) Journal of Applied Econometrics, forthcoming. Changes in cognitive achievement distribution for the students of 4th graders in brazil: the relative distribution analysis for 1997 to 2005 Cristine Pinto (with Clarissa Rodrigues and Eduardo Rios Neto) Economics of Education Review, 2013 new evidence of the Causal effect of Family Size on Child Quality in a Developing Country Vladimir Ponczek and André Portela Souza The Journal of Human Resources 2012. the impact of Structured teaching Methods on the Quality of education in brazil Maria Carolina Leme; Vladimir Ponczek; André Portela Souza (with LOUZANO, P.) Economics of Education Review, 2012. 14 household Choices of Child labor and Schooling: a Simple Model with application to brazil Rodrigo Soares (with Diana Kruger and Matias Berthelon) Journal of Human Resources, 2012 institutional Development and Colonial heritage within brazil Rodrigo Soares (with Joana Naritomi and Juliano J. Assunção) Journal of Economic History, 2012 a note on Slavery and the roots of inequality Rodrigo Soares (with Juliano J. Assunção and Tomás F. Goulart) Journal of Comparative Economics, 2012 income bargaining effects on education health in brazil Vladimir Ponczek Journal of Development Economics, 2011 is Child labor harmful? the impact of Working earlier in life on adult earnings André Portela Souza (with Patrick M EMERSON) Economic Development and Cultural Change, 2011. the effects of adult literacy on earnings and employment Vladimir Ponczek (with Maúna Baldini) Economics of Education Review, 2011 15 Segmentation in the brazilian labor Market Vladimir Ponczek (with Fernando Botelho) Economic Development and Cultural Change, 2011 evaluating the impact of Community-based health interventions: evidence from brazil’s Family health Program Rodrigo Soares (with Romero Rocha) Health Economics, 2010. altruism, Fertility, and the Value of Children: health Policy evaluation and intergenerational Welfare Rodrigo Soares (with Javier A. Birchenall) Journal of Public Economics, 2009 the Demographic transition and the Sexual Division of labor Rodrigo Soares (with Bruno Falcão) Journal of Political Economy, 2008 birth Order, Child labor, and School attendance in brazil André Portela Souza (with Patrick M EMERSON) World Development, 2008. health and the evolution of Welfare across brazilian Municipalities Rodrigo Soares Journal of Development Economics, 2007 16 the Welfare Cost of Violence across Countries. Rodrigo Soares Journal of Health Economics, 2006 Mortality reductions, educational attainment, and Fertility Choice Rodrigo Soares American Economic Review, 2005 the Quantity and Quality of life and the evolution of World inequality Rodrigo Soares (with Gary S. Becker and Tomas J. Philipson) American Economic Review, 2005 Development, Crime, and Punishment: accounting for the international Differences in Crime rates Rodrigo Soares Journal of Development Economics, 2004 Crime reporting as a Measure of institutional Development. Rodrigo Soares Economic Development and Cultural Change, 2004 the role of the Family in immigrant´s labor Market activity:an evaluation of alternative explanations: Comment André Portela Souza (with Francine D Blau; Lawrence Kahn and Joan Moriarty) American Economic Review, 2003 17 Econometrics Econometrics is based on a set of statistical methods that are used in quantitative analysis of economic phenomena. It contributes to the development of economic models, testing theories and data analysis. Our econometrics courses encompass a detailed overview of the main techniques. Our master and doctoral students should take two econometrics courses in the first two quarters of the program. These first two courses include the basic techniques in econometrics like, linear and nonlinear regression analysis, instrumental variables, maximum likelihood and generalized method of moments. In addition, the doctoral students must take a basic course about time series and a basic panel data course in the third and fourth quarter of the program, respectively. Master and Doctoral students may also take many advanced courses in econometrics and applied courses in which the main techniques are applied to economic problems. There is a group of professors specialized in Econometrics: Áureo de Paula, Cristine Pinto, Marcelo Fernandes, Paulo Pichetti and Pedro Valls. Furthermore, there are other faculties that work in related fields and interact regularly with the field. For example, Enlinson Mattos, Vladimir Ponczek, Andre Portela and Rodrigo Soares study problems related to economics of education, labor economics, crime, health economics, public finance, etc. In addition, Marcelo Fernandes, Pedro Valls and João Mergulhão work with financial econometrics. 18 Selected Publications of our Faculty Members The (semi-)parametric functional coefficient autoregressive conditional duration model Marcelo Fernandes (with Marcelo Medeiros and Alvaro Veiga) Econometric Reviews, forthcoming. inference of Signs of interaction effects in Simultaneous Games with incomplete information Áureo de Paula (with Xun Tang) Econometrica, 2012 a new Method of estimating Moment Condition Models with Missing Data when Selection is on Observables Cristine Pinto (with Daniel Egel and Bryan Graham) Review of Economic Studies, 2012 interdependent Durations Áureo de Paula (with Bo E. Honore) Review of Economic Studies, 2010 unconditional Quantile regressions Sérgio Firpo (with Nicole Fortin and Thomas Lemieux) Econometrica, 2009 inference in a Synchronization Game with Social interactions Áureo de Paula Journal of Econometrics, 2009 19 nonparametric entropy-based tests of independence between stochastic processes Marcelo Fernandes (with B. Neri) Econometric Reviews, 2009 Efficient Semiparametric Estimation of Quantile Treatment effects Sérgio Firpo Econometrica, 2007 Guest editorial: Semiparametric methods in econometrics Marcelo Fernandes (with O. Linton and O. Scaillet) Journal of Econometrics, 2007 testing the Markov property with high frequency data Marcelo Fernandes (with João Amaro de Matos) Journal of Econometrics, 2007 a family of autoregressive conditional duration models Marcelo Fernandes (with J. Grammig) Journal of Econometrics, 2006 Nonparametric specification tests for conditional duration models Marcelo Fernandes (with J. Grammig) Journal of Econometrics, 2005 a multivariate conditional autoregressive range model Marcelo Fernandes (with B. Mota and M. Rocha) Economic Letters, 2005 20 Economic Theory The Sao Paulo School of Economics has many faculty members teaching courses on economic theory and applied microeconomic theory. This group of faculty includes Braz Camargo, Daniel Monte, Enlinson Mattos, Klênio Barbosa and Victor Filipe Martins da Rocha. In addition, other faculty members at our department have strong interests in economic theory, for example, Luis Araujo, Bernardo Guimaraes and Vladimir Teles. The research projects in economic theory at the Sao Paulo School of Economics range from pure theory to applied microeconomics with strong links to policy making. Braz Camargo works on decentralized trade in markets with adverse selection and has also worked on monetary theory and social learning. Daniel Monte has worked on bounded rationality and is now working on matching and market design. Enlinson Mattos works on public economics, tax policy, and more recently in optimal provision of in-kind transfers. Klênio Barbosa works on procurement and regulation and, more broadly, on industrial organization, banking and corporate finance. Victor Filipe Martins-da-Rocha works on economic theory and general equilibrium. Victor is currently at the editorial board of Economic Theory. 21 Selected Publications of our Faculty Members the Daycare assignment: a Dynamic Matching Problem Daniel Monte (with J. Kennes and N. Tumennasan) American Economic Journal: Microeconomics, forthcoming. learning with bounded Memory in Games Daniel Monte Games and Economic Behavior, forthcoming. the Value of (bounded) Memory in a Changing World Daniel Monte (with Maher Said) Economic Theory, forthcoming. bounded Memory and Permanent reputations Daniel Monte Journal of Mathematical Economics, forthcoming. incentive Constraints in Games with bounded Memory Daniel Monte International Journal of Game Theory, forthcoming. Matching with Quorums Daniel Monte (with Norovsambuu Tumennasan) Economics Letters, 2013. 22 harsh default penalties lead to Ponzi schemes: a counterexample. Victor Filipe Martins-da-Rocha (with Y. Vailakis) Games and Economic Behavior, 2012 endogenous debt constraints in collateralized economies with default penalties Victor Filipe Martins-da-Rocha (with Y. Vailakis) Journal of Mathematical Economics, 2012 Existence and uniqueness of a fixed point for local contractions Victor Filipe Martins-da-Rocha (with Y. Vailakis) Econometrica, 2010 On equilibrium prices in continuous time Victor Filipe Martins-da-Rocha (with F. Riedel) Journal of Economic Theory, 2010 Financial markets with endogenous transaction costs Victor Filipe Martins-da-Rocha (with Y. Vailakis) Economic Theory, 2010 Interim efficiency with MEU-preferences. Victor Filipe Martins-da-Rocha Journal of Economic Theory, 2010 interracial Friendships in College Braz Camargo (with Ralph Stinebrickner and Todd Stinebrickner) Journal of Labor Economics. 2010 23 equilibrium theory with asymmetric information and infinitely many states Victor Filipe Martins-da-Rocha (with Hervés-Beloso and P. Monteiro) Economic Theory, 2009 unbounded exchange economies with satiation: how far can we go? Victor Filipe Martins-da-Rocha (with P. Monteiro) Journal of Mathematical Economics, 2009 large economies with differential information and without free disposal Victor Filipe Martins-da-Rocha (with L. Angeloni) Economic Theory, 2009 Cournot-nash equilibria in continuum games with non-ordered preferences Victor Filipe Martins-da-Rocha (with M. Topuzu) Journal of Economic Theory, 2008 Efficient Dissolution of Partnerships and the Structure of Control Emanuel Ornelas (with John Turner) Games and Economic Behavior, 2007 Good news and bad news in two-armed bandits Braz Camargo Journal of Economic Theory, 2007 On the long run effects of Fashion Luis Araújo (with Raoul Minetti) Economic Inquiry, 2007 24 asset market equilibrium with short-selling and differential information Victor Filipe Martins-da-Rocha (with W. Daher and Y. Vailakis) Economic Theory, 2007 Equilibria in reflexive Banach lattices with a continuum of agents Victor Filipe Martins-da-Rocha (with A. Araújo, P. Monteiro) Economic Theory, 2004 Equilibrium analysis in financial markets with countably many securities Victor Filipe Martins-da-Rocha (with C. Aliprantis; M. Florenzano and R. Tourky) Journal of Mathematical Economics, 2004 equilibria in large economies with differentiated commodities and non-ordered preferences Victor Filipe Martins-da-Rocha Economic Theory, 2004 equilibria in large economies with a separable banach commodity space and non-ordered preferences Victor Filipe Martins-da-Rocha Journal of Mathematical Economics, 2003 25 Financial Economics Students planning to do their research in Financial Economics will find a diversified group of Faculty, with both theoretical and applied research agendas. The School’s Finance Research includes projects on Financial Econometrics, Asset Pricing, Behavioural Finance, Corporate Finance and Experimental Financial Economics. Klenio Barbosa research interests in finance include Banking, Corporate Finance and contract Theory. Bruno Ferman develops experimental studies on consumer finance. Marcelo Fernandes research interests include asset pricing, empirical finance, empirical market microstructure, and financial econometrics. João Mergulhão works on Corporate Finance and Social Networks, and Asset pricing. Pedro Valls financial research interests include Econometrics, Empirical Finance, Computational Finance and Time Series Econometrics. Most of the projects run through the school research centres, providing students with access to the main international financial databases (WRDS, Compustat, Bloomberg, Datastream, ThomsonReuters) and preferential access to Brazilian markets data provided BMF&Bovespa and other national players. The Ph.D program offers core courses in Corporate Finance, Asset Pricing and Financial Econometrics, with both theoretical and applied modules. Elective courses include Computational Methods, Derivatives and Fixed Income. 26 Selected Publications of our Faculty Members assessing Competition in the banking industry: a Multi-Product approach Klenio Barbosa (with Bruno Rocha and Fernando Salazar) Journal of Banking and Finance, forthcoming. understanding Mechanisms underlying Peer effects: evidence from a Field experiment on Financial Decisions” Bruno Ferman (with Leonardo Bursztyn, Florian Ederer, and Noam Yuchtman) Econometrica, forthcoming Modeling and predicting the CbOe market volatility index Marcelo Fernandes (with Marcelo Medeiros and Marcel Scharth) Journal of Banking and Finance, 2013 analysis of the Volatility´s Dependency Structure during the Subprime Crisis Pedro Valls Pereira (with B. Arruda) Applied Economics, 2013. international market links and volatility transmission Marcelo Fernandes (with V. Corradi and W. Distaso) Journal of Econometrics, 2012 Evaluation of contagion or interdependence in the financial crises of Asia and latin america, considering the macroeconomic fundamentals Pedro Valls Pereira (with E. Marçal; D. Martin and T. Nakamura) Applied Economics, 2011. Conditional stochastic kernel estimation by nonparametric methods Pedro Valls Pereira (with M. Laurini) Economics Letters, 2009. 27 are price limits on futures markets that cool? evidence from the brazilian Mercantile and Futures exchange Marcelo Fernandes (with M. Rocha) Journal of Financial Econometrics, 2007 Financial crashes as endogenous jumps: estimation, testing and forecasting Marcelo Fernandes Journal of Economic Dynamics and Control, 2006 28 Macroeconomics and International Economics Research in macroeconomics is concern with long-term growth, short-run fluctuations and economic crises. Much of the research in macroeconomics employs models that describe the economy as a whole and can be contrasted with the data, but there is also research on the microeconomic foundations of the macroeconomic models. Long-term growth is the main focus of the research by Professor Vladimir Teles. He has been writing empirical and theoretical articles about the effects on long-term growth of several factors, including: fiscal policy and financial crises (both usually associated with short-run macroeconomics); and even political institutions. Theoretical models of political institutions are also part of the research by Professor Bernardo Guimaraes. Bernardo Guimaraes also studies financial crises, currency attacks and sovereign debt. He has written on several topics including the role of the IMF and the effects of world interest rates on default risk in emerging economies. Professor Luis Araujo’s research is also related to financial crises and, in particular, to the microeconomic aspects of credit market failures that affect the macroeconomy. Tiago Cavalcanti is a researcher whose expertise is Macroeconomics, Economic Growth and Development. His research has appeared in leading academic journals, such as the Journal of Monetary Economics, Review of Economic Statistics, European Economic Review and the Journal of the European Economic Association. He is currently the managing editor of the BE Journal in Macroeconomics. Emanuel Ornelas is a trade economist who is exploring the central determinants of underlying trade patterns between nations, and the relations between trade and institutions. Two courses in international economics cover traditional and modern theories of international trade, incorporating both theory and empirical work. The macro group at the Sao Paulo School of Economics also researches on short-run macroeconomic fluctuations. Vladimir Teles has worked on empirical studies and quantitative models applied to the Brazilian macroeconomy and to emerging markets more generally. Bernardo Guimaraes has been studying the role of expectations and the possibility of coordination failures in macroeconomic models and the microeconomic foundations behind nominal rigidities. Luis Araujo focuses his research on models that seek to understand how money, credit and banking affect transactions among agents and the implications to the macroeconomy. 29 Selected Publications of our Faculty Members Coordination in the use of money Luis Araújo and Bernardo Guimarães Journal of Monetary Economics, 2014 Public Debt and the limits of Fiscal Policy to increase economic Growth Vladimir K. Teles (with Caio Mussolini) European Economic Review, 2014 Free trade agreements and the Consolidation of Democracy Emanuel Ornelas (with Xuepeng Liu) American Economic Journal: Macroeconomics, 2014 uS real interest rates and default risk in emerging economies Bernardo Guimarães (with Nathan Foley-Fisher) Journal of Money, Credit and Banking, 2014 the essentiality of Money in environments with Centralized trade Luis Araujo and Braz Camargo (with Raoul Minetti and Daniela Puzzello) Journal of Monetary Economic, 2012 Protection and international Sourcing Emanuel Ornelas (with John Turner) 30 Economic Journal, 2012 Sequential exporting Emanuel Ornelas (with Facundo Albornoz, Hector Calvo-Pardo and Gregory Corcos) Journal of International Economics, 2012 Financial dollarization and systemic risks: new empirical evidence Márcio Holland (with F. VIEIRA and M. Resende) Journal of International Money and Finance, 2012 Sales and monetary policy Bernardo Guimarães (with Kevin Sheedy) American Economic Review, 2011 On the essentiality of banks Luis Araújo (with Raoul Minetti) International Economic Review, 2011. Knowledge sharing and the dynamics of social capital Luis Araújo (with Raoul Minetti) European Economic Review, 2011. Sovereign default: which shocks matter? Bernardo Guimarães Review of Economic Dynamics, 2011 Taylor Principle and Inflation Stability in Emerging Market Countries Vladimir K. Teles (with Marta Zaidan) Journal of Development Economics, 2010 31 Value added taxes, Chain effects and informality Áureo de Paula (with Jose A. Scheinkman) American Economic Journal: Macroeconomics, 2010 Markets and relationships in a learning economy? Luis Araújo (with Raoul Minetti) Review of Economic Dynamics, 2010. Does regionalism affect trade liberalization towards non-Members? Emanuel Ornelas (with Caroline Freund and Antoni Estevadeordal) Quarterly Journal of Economics, 2008 Feasible Multilateralism and the effects of regionalism Emanuel Ornelas Journal of International Economics, 2008 trade liberalization, Outsourcing, and the hold up Problem Emanuel Ornelas (with John Turner) Journal of International Economics, 2008 endogenous Supply of Fiat Money Luis Araujo and Braz Camargo Journal of Economic Theory, 2008 32 Financial intermediaries as Markets for Firm assets Luis Araújo (with Raoul Minetti) Economic Journal, 2007 exchanging Market access at the Outsiders’ expense the Case of Customs unions Emanuel Ornelas Canadian Journal of Economics, 2007 Risk and wealth in a model of self-fulfilling currency attacks Bernardo Guimarães (with Stephen Morris) Journal of Monetary Economics, 2007 international lending of last resort and moral hazard: a model of IMF’s catalytic finance Bernardo Guimarães (with Giancarlo Corsetti and Nouriel Roubini) Journal of Monetary Economics, 2006 Dynamics of currency crises with asset market frictions Bernardo Guimarães Journal of International Economics, 2006 information, learning, and the Stability of Fiat Money Luis Araújo e Braz Camargo Journal of Monetary Economics, 2006 33 Price Dispersion, information and learning. Luis Araújo (with Andrei Shevchenko) Journal of Monetary Economics, 2006. rent Destruction and the Political Viability of Free trade agreements Emanuel Ornelas Quarterly Journal of Economics, 2005 endogenous Free trade agreements and the Multilateral trading System Emanuel Ornelas Journal of International Economics, 2005 trade Creating Free trade areas and the undermining of Multilateralism Emanuel Ornelas European Economic Review, 2005 Social norms and money Luis Araújo Journal of Monetary Economics, 2004. 34 Public Economics and Political Economy Graduate students can enroll in a two trimester public economics sequence. The first course focuses on traditional issues in public economics such as the design of local, state and federal tax, and the economic expenditure public policies. The second course emphasizes recent advances in public procurement, regulation, tagging, fiscal federalism and dynamic (OLG) models of optimal taxation. Eventually the subject matter of these two courses can vary from year to year, and one of the two may not be offered. We also recommend students to enroll in a micreconometrics course. In some years, an alternative “topics in public economics” course may also be offered. Several faculty members work on public economics and related topics. Enlinson Mattos examines various issues in tax policy, including tax evasion, auditing, tax competition, conditional cash transfers and more recently in optimal provision of in-kind transfers. Klenio Barbosa studies theoretical and empirical issues in public procurement, concession design and regulation. Two other scholars from the FGV’s School of Public Administration are also affiliated with Sao Paulo School of Economics-FGV. Ciro Biderman studies the dynamics of transportation markets and local public finance. He is also affiliated with the Lincoln Institute of Land Policy and the MIT. He eventually teaches a graduate course in urban economics at the School Public Administration-FGV. Lastly, George Avelino addresses theoretical issues in political science and state coalitions. He also teaches a course on his research field at the School Public Administration-FGV. 35 Selected Publications of our Faculty Members Public employment and income redistribution: Causal evidence for brazilian municipalities Enlinson Mattos (with Vitor França) Public Choice, 2011 ad-valorem tax incidence and after-tax price adjustments: evidence from brazilian basic food basket Enlinson Mattos (with Ricardo Politi) Canadian Journal of Economics, 2011 Conditional Cash transfers, Public Provision of Private Goods, and income redistribution Enlinson Mattos (with Firouz Gahvari) American Economic Review, 2007. 36 Faculty members araÚJO, luís PhD, University of Pennsylvania Research Interests: Macroeconomics, Applied Theory barbOSa, Klênio Dr, Tolouse School of Economics Research Interests: Finance, Industrial Organization, Regulation, Public Procurement CaMarGO, braz PhD, University of Pennsylvania Research Interests: Microeconomics, Applied Theory CaValCanti, tiago PhD, University of Pennsylvania Research Interests: Microeconomics, Applied Theory De Paula, Áureo PhD Princeton University Research Interests: Econometrics, Applied Microeconomics FerMan, bruno PhD, MIT Research Interests: Behavioural Finance, Consumer Finance 37 FERNANDES, Marcelo Dr, Université Libre de Bruxelles, Pós-doc European University Institute Research Interests: Econometrics, Empirical Finance GUIMARÃES, Bernardo PhD, Yale University Research Interests: Macroeconomics, International Economics, Political Economy MARTINS DA ROCHA, Victor Filipe Dr, Universidade de Paris-I Panthéon Sorbonne Research Interests: Mathemetical Economics, Finance, Economic Theory MATTOS, Enlinson PhD, University of Illinois at Urbana-Champaign Research Interests: Public Economics MERGULHÃO, João Dr, Universidade Nova de Lisboa Research Interests: Finance MONTE, Daniel PhD, Yale University Research Interests: Applied Theory, Game Theory, Matching 38 OrnelaS, emanuel PhD, University of Wisconsin-Madison Research Interests: International Trade, Political Economy PintO, Cristine Xavier PhD, University of California at Berkeley Research Interests: Econometrics, Applied Microeconomics POnCZeK, Vladimir P. PhD Princeton University Research Interests: Applied Microeconomics SOareS, rodrigo r. Ph.D., University of Chicago Research Interests: Development Economics, Applied Microeconomics SOuZa, andré Portela PhD, Cornell University Research Interests: Applied Microeconomics teleS, Vladimir K. Dr UnB; Pós-Doc Harvard University Research Interests: Macroeconomics, Economic Growth 39 VALLS PEREIRA, Pedro Dr, London School of Economics - LSE Research Interests: Econometrics, Finance Associated Faculty BRESSER-PEREIRA, Luiz Carlos Dr, USP Research Interests: Macroeconomics, Political Science CARDOSO, Eliana PhD MIT Research Interests: Macroeconomics HOLLAND, Márcio Dr, UNICAMP; Pos-Doc, University of California at Berkeley Research Interests: Macroeconomics 40 Conselho Diretor Presidente Carlos Ivan Simonsen Leal Vice-Presidentes Sergio Franklin Quintella, Francisco Oswaldo Neves Dornelles e Marcos Cintra Cavalcanti de Albuquerque Vogais Diretor Yoshiaki Nakano Coordenador do Programa de Pós-Graduação em economia Enlinson Henrique Carvalho de Mattos Coordenação de Pesquisa Lilian Furquim de C. Andrade Armando Klabin, Carlos Alberto Pires de Carvalho e Albuquerque, Ernane Galvêas, José Luiz Miranda, Lindolpho de Carvalho Dias, Manoel Pio Correa Júnior, Marcílio Marques Moreira e Roberto Paulo Cezar de Andrade Coordenação editorial Suplentes Colaboradores Antonio Monteiro de Castro Filho, Cristiano Buarque Franco Neto, Eduardo Baptista Vianna, Gilberto Duarte Prado, Jacob Palis Júnior, José Ermírio de Moraes Neto, Marcelo José Basílio de Souza Marinho e Maurício Matos Peixoto. Conselho Curador Presidente Carlos Alberto Lenz César Protásio Vice-Presidente João Alfredo Dias Lins (Klabin Irmãos e Cia) Vogais Alexandre Koch Torres de Assis, Andrea Martini (Souza Cruz S/A), Angélica Moreira da Silva (Federação Brasileira de Bancos), Ary Oswaldo Mattos Filho, Carlos Moacyr Gomes de Almeida, Estado do Rio Grande do Sul, Heitor Chagas de Oliveira, Jacques Wagner (Estado da Bahia), Leonardo André Paixão (IRB – Brasil Resseguros S.A.), Luiz Chor (Chozil Engenharia Ltda), Marcelo Serfaty, Marcio João de Andrade Fortes, Orlando dos Santos Marques (Publicis Brasil Comunicação Ltda), Pedro Henrique Mariani Bittencourt (Banco BBM S.A), Raul Calfat (Votorantim Participações S.A), Ronaldo Mendonça Vilela (Sindicato das Empresas de Seguros Privados, de Previdência Complementar e de Capitalização nos Estados do Rio de Janeiro e do Espírito Santo) e Sandoval Carneiro Junior. Suplentes Aldo Floris, José Carlos Schmidt Murta Ribeiro, Luiz Ildefonso Simões Lopes (Brookfield Brasil Ltda), Luiz Roberto Nascimento Silva, Manoel Fernando Thompson Motta Filho, Nilson Teixeira (Banco de Investimentos Crédit Suisse S.A), Olavo Monteiro de Carvalho (Monteiro Aranha Participações S.A), Patrick de Larragoiti Lucas (Sul América Companhia Nacional de Seguros), Roberto Castello Branco (Vale S.A), Rui Barreto (Café Solúvel Brasília S.A), Sérgio Lins Andrade (Andrade Gutierrez S.A) e Victório Carlos De Marchi (Café Solúvel Brasília S.A). Enlinson Henrique Carvalho de Mattos Lilian Furquim de C. Andrade Daniela Junqueira Thais da Silva Cabral Patricia Fiuza Fotos Patricia Fiuza Shutterstock