Do Brazilian courts contribute to the implementation of the right to housing?

The objective of this paper is to try to understand the Brazilian���s Courts role in the implementation of the Right to Housing. In order to do that, I analyzed three lawsuits (Favela Olga Benario, Favela Fiat/Vila Esperan��a and Pinheirinho I) in which the Right to Housing collide with the Right to Private Property. I claim that in spite of the adoption of the Social Function of the Ownership Principle and the formal inclusion of the Right to Housing among social rights protected by the Constitution, Brazilians Courts adopt a very conservative conception of the Right to Private Property and because of that, they tend not to enforce the Right to Housing.

On the differentiability of the consumer demand function

For strictly quasi concave differentiable utility functions, demand is shown to be differentiable almost everywhere if marginal utilities are pointwise Lipschitzian. For concave utility functions, demand is differentiable almost everywhere in the case of differentiable additively separable utility or in the case of quasi-linear utility.

The insurance function of contracts

One of the central problems in contract law is to define the frontier between legal and illegal breaches of promises. The distinction between good and bad faith is perhaps the conceptual tool most commonly used to tell one from the other. Lawyers spend a lot of energy trying to frame better definitions of the concepts of good and bad faith based on principles of ethics or justice, but often pay much less attention to theories dealing with the incentives that can engender good faith behavior in contractual relationships. By describing the economics of what Stiglitz defined as ���explicit��� and ���implicit��� insurance, I highlight the ���insurance function��� hidden in any promise with basically no mathematical notation. My aim is to render the subject intelligible and useful to lawyers with little familiarity with economics.

Bounds for the probability distribution function of the linear ACD process

This paper derives both lower and upper bounds for the probability distribution function of stationary ACD(p, q) processes. For the purpose of illustration, I specialize the results to the main parent distributions in duration analysis. Simulations show that the lower bound is much tighter than the upper bound.

Aggregate vs disaggregate data analysis: a paradox in the estimation of money demand function of Japan under the low interest rate policy

We investigate the issue of whether there was a stable money demand function for Japan in 1990's using both aggregate and disaggregate time series data. The aggregate data appears to support the contention that there was no stable money demand function. The disaggregate data shows that there was a stable money demand function. Neither was there any indication of the presence of liquidity trapo Possible sources of discrepancy are explored and the diametrically opposite results between the aggregate and disaggregate analysis are attributed to the neglected heterogeneity among micro units. We also conduct simulation analysis to show that when heterogeneity among micro units is present. The prediction of aggregate outcomes, using aggregate data is less accurate than the prediction based on micro equations. Moreover. policy evaluation based on aggregate data can be grossly misleading.

Options listing and the volatility of the underlying asset: a study on the derivative market function

Os mercados de derivativos s��o vistos com muita desconfian��a por in��meras pessoas. O trabalho analisa o efeito da introdu����o de op����es sobre a����es no mercado brasileiro buscando identificar uma outra justificativa para a exist��ncia destes mercados: a altera����o no n��vel de risco dos ativos objetos destas op����es. A evid��ncia emp��rica encontrada neste mercado est�� de acordo com os resultados obtidos em outros mercados - a introdu����o de op����es �� ben��fica para o investidor posto que reduz a volatilidade do ativo objeto. Existe tamb��m uma t��nue indica����o de que a volatilidade se torna mais estoc��stica com a introdu����o das op����es.