Essays in applied microeconomics

Esta tese é composta de três artigos. No primeiro artigo, ``Risk Taking in Tournaments", é considerado um torneio dinâmico no qual jogadores escolhem como alocar seu tempo em atividades que envolvem risco. No segundo artigo, ``Unitização de Jazidas de Petróleo: Uma Aplicação do Modelo de Green e Porter" é analisado a factibilidade de se haver um acordo de cooperação em um ambiente de common-pool com incerteza nos custos das empresas. No terceiro artigo, ``Oilfield Unitization Under Dual Fiscal Regime: The Regulator Role over the Bargaining", por sua vez, é estudado a unitização quando existem dois regimes fiscais distintos, como os jogadores se beneficiam disso e o papel do regulador no regime de partilha.

Essays on consumer brand engagement

Apesar do crescente interesse no conceito de engajamento da marca ainda existe discordância quanto aos seus conceitos fundamentais. Esta tese de doutorado explora a natureza da construção engajamento da marca do consumidor (EMC). No primeiro artigo, EMC é avaliada no âmbito da Teoria da Expectância para explicar e esclarecer como a antecipação de possíveis resultados de se envolver com uma marca, sendo tais resultados classificados como “primeiro nível” (resultante do esforço pessoal alocado para interagir com uma marca) e “segundo nível” (ou nível final, representando a consequência dos resultados de primeiro nível) e uma nova definição de EMC é formulada. Um arcabouço teórico abrangente é proposto para engajamento da marca, usando o Teoria Organizacional de Marketing para Expansão de Fronteiras (TOMEF) como referência para os pontos de contato entre o consumidor e a marca. A partir dos fundamentos teóricos das dimensões cognitivas, emocionais e comportamentais do EMC, quinze proposições teóricas são desenvolvidas para incorporar uma perspectiva multilateral às doutrinas teóricas do construto. No segundo artigo, quatro estudos são usados para desenvolver uma escala de engajamento da marca do consumidor. O Estudo 1 (n = 11) utiliza revisão da literatura e entrevistas em profundidade com os consumidores para gerar os itens da escala. No Estudo 2, oito especialistas avaliam 144 itens quanto a validade de face e validade de conteúdo. No Estudo 3 dados coletados com alunos de graduação (n = 172) é submetida à análise fatorial exploratória (AFE) e confirmatória (AFC) para redução adicional de itens. Trezentos e oitenta e nove respostas de um painel de consumidores são usados no Estudo 4 para avaliar o ajuste do modelo, usando a análise fatorial confirmatória (AFC) e Modelagem por Equações Estruturais (MEE). A escala proposta possui excelentes níveis de validade e confiabilidade. Finalmente, no terceiro papel, uma escala de engajamento do consumidor de Vivek et al. (2014) é replicada (n = 598) junto à consumidores em uma feira automotiva, para estender o debate sobre formas de medição do constructo usando a perspectiva da Teoria de Resposta ao Item (TRI). Embora o modelo desenvolvido com base na teoria clássica de teste (TCT) usando AFC, um modelo de resposta gradual (MRG) identifica cinco itens que têm baixos níveis de poder discriminante e com baixos níveis de informação. A abordagem usando TRI indica um possível caminho para melhorias metodológicas futuras para as escalas desenvolvidas na área de marketing em geral, e para a escala engajamento do consumidor, em particular.

Theoretical and empirical essays on microeconometrics

This Master Thesis consists of one theoretical article and one empirical article on the field of Microeconometrics. The first chapter\footnote{We also thank useful suggestions by Marinho Bertanha, Gabriel Cepaluni, Brigham Frandsen, Dalia Ghanem, Ricardo Masini, Marcela Mello, Áureo de Paula, Cristine Pinto, Edson Severnini and seminar participants at São Paulo School of Economics, the California Econometrics Conference 2015 and the 37\textsuperscript{th} Brazilian Meeting of Econometrics.}, called \emph{Synthetic Control Estimator: A Generalized Inference Procedure and Confidence Sets}, contributes to the literature about inference techniques of the Synthetic Control Method. This methodology was proposed to answer questions involving counterfactuals when only one treated unit and a few control units are observed. Although this method was applied in many empirical works, the formal theory behind its inference procedure is still an open question. In order to fulfill this lacuna, we make clear the sufficient hypotheses that guarantee the adequacy of Fisher's Exact Hypothesis Testing Procedure for panel data, allowing us to test any \emph{sharp null hypothesis} and, consequently, to propose a new way to estimate Confidence Sets for the Synthetic Control Estimator by inverting a test statistic, the first confidence set when we have access only to finite sample, aggregate level data whose cross-sectional dimension may be larger than its time dimension. Moreover, we analyze the size and the power of the proposed test with a Monte Carlo experiment and find that test statistics that use the synthetic control method outperforms test statistics commonly used in the evaluation literature. We also extend our framework for the cases when we observe more than one outcome of interest (simultaneous hypothesis testing) or more than one treated unit (pooled intervention effect) and when heteroskedasticity is present. The second chapter, called \emph{Free Economic Area of Manaus: An Impact Evaluation using the Synthetic Control Method}, is an empirical article. We apply the synthetic control method for Brazilian city-level data during the 20\textsuperscript{th} Century in order to evaluate the economic impact of the Free Economic Area of Manaus (FEAM). We find that this enterprise zone had positive significant effects on Real GDP per capita and Services Total Production per capita, but it also had negative significant effects on Agriculture Total Production per capita. Our results suggest that this subsidy policy achieve its goal of promoting regional economic growth, even though it may have provoked mis-allocation of resources among economic sectors.

Essays in applied econometrics

Using a unique dataset on Brazilian nominal and real yield curves combined with daily survey forecasts of macroeconomic variables such as GDP growth, inflation, and exchange rate movements, we identify the effect of surprises to the Brazilian interbank target rate on expected future nominal and real short rates, term premia, and inflation expectations. We find that positive surprises to target rates lead to higher expected nominal and real interest rates and reduced nominal and inflation term premia. We also find a strongly positive relation between both real and nominal term premia and measures of dispersion in survey forecasts. Uncertainty about future exchange rates is a particularly important driver of variations in Brazilian term premia.

Essays on health care reform, wealth inequality, and demography

This thesis contains three chapters. The first chapter uses a general equilibrium framework to simulate and compare the long run effects of the Patient Protection and Affordable Care Act (PPACA) and of health care costs reduction policies on macroeconomic variables, government budget, and welfare of individuals. We found that all policies were able to reduce uninsured population, with the PPACA being more effective than cost reductions. The PPACA increased public deficit mainly due to the Medicaid expansion, forcing tax hikes. On the other hand, cost reductions alleviated the fiscal burden of public insurance, reducing public deficit and taxes. Regarding welfare effects, the PPACA as a whole and cost reductions are welfare improving. High welfare gains would be achieved if the U.S. medical costs followed the same trend of OECD countries. Besides, feasible cost reductions are more welfare improving than most of the PPACA components, proving to be a good alternative. The second chapter documents that life cycle general equilibrium models with heterogeneous agents have a very hard time reproducing the American wealth distribution. A common assumption made in this literature is that all young adults enter the economy with no initial assets. In this chapter, we relax this assumption – not supported by the data – and evaluate the ability of an otherwise standard life cycle model to account for the U.S. wealth inequality. The new feature of the model is that agents enter the economy with assets drawn from an initial distribution of assets. We found that heterogeneity with respect to initial wealth is key for this class of models to replicate the data. According to our results, American inequality can be explained almost entirely by the fact that some individuals are lucky enough to be born into wealth, while others are born with few or no assets. The third chapter documents that a common assumption adopted in life cycle general equilibrium models is that the population is stable at steady state, that is, its relative age distribution becomes constant over time. An open question is whether the demographic assumptions commonly adopted in these models in fact imply that the population becomes stable. In this chapter we prove the existence of a stable population in a demographic environment where both the age-specific mortality rates and the population growth rate are constant over time, the setup commonly adopted in life cycle general equilibrium models. Hence, the stability of the population do not need to be taken as assumption in these models.

Essays on cartels and market distortions

This dissertation is a conjunction of three essays on the Industrial Organization field, this empirical work is applied to the Brazilian retail gasoline market. The first essay investigates the existence of spillover effects from cartel activity. The second essay relates the well-known economic puzzle of asymmetric cost pass through to prices with the existence of horizontal coordination - cartels - in the relevant market. Finally, the third essay investigates the effectiveness of antitrust interventions inside the offenders and the consequences of its disclosure in related markets.

Economic traits and performance of Italian quails reared at different cage stocking densities

This study assessed the effect of different cage stocking densities on the performance of Italian quails in the laying period. Two hundred and sixty four quails with 30 weeks of age and 280g mean body weight were used. Birds were randomly assigned to 96 x 33 x 16 cm cages and distributed in a randomized block design with 4 treatments (12, 15, 18 and 21 quails per cage or 264, 211, 176 and 151 cm² per quail, respectively) and 4 replicates. Birds were given feed and water ad libitum and submitted to the same experimental conditions. The experimental diet was formulated based on NRC (1994) recommendations. There were no significant differences among treatments for feed conversion per egg mass (kg:kg), percentage of broken eggs and mortality. There was a linear reduction (p<0.05) in egg weight, feed consumption, percentage of production, egg mass and feed conversion per dozen with the increase in stocking density. The gain per house per day was better at the cage density of 151 cm² per bird. However, the density of 211 cm² per bird provided the best gain per bird per day, because this stocking density had better productive indexes when compared with the other treatments.

Thermoregulation in colonies of africanized and hybrids with Caucasian, Italian and Carniolan Apis mellifera honey bees

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Number of ovarioles in workers descendent from crossings between Africanized and Italian honeybees, Apis mellifera L.: comparison among backcrosses and ancestors colonies

Comparou-se o número de ovaríolos de operárias de abelhas Apis mellifera L. de 36 colônias de retrocruzamentos (Africanizadas e Italianas) e operárias de colônias ancestrais parentais, endocruzadas e híbridas (F1). Não houve diferença no número de ovaríolos dos ovários direito e esquerdo das operárias. As abelhas híbridas da geração F1 apresentaram de 2 a 31 ovaríolos. O número de ovaríolos nas operárias dos retrocruzamentos africanizados variou de 2 a 56 e nos retrocruzamentos italianos de 2 a 117. A grande variação no número de ovaríolos das abelhas dos retrocruzamentos deveu-se a variabilidade observada na geração parental (abelhas africanizadas: 2 - 16; italianas: 6 - 26) e no F1 (2 - 31).

Laboratory essays on solid residues from an area of sand mining activities at Analandia, São Paulo, Brazil, and implications to the water resources quality

This investigation reports the results of tests performed in a laboratory with solid waste samples from an area belonging to Sibelco Mineracao Ltd., which is located around Analandia municipality, nearly in the center of São Paulo State, Brazil. Dissolution and leaching essays were realized under different experimental conditions in four samples collected from the mining front and decantation pool, with the aim of evaluating the possibility of release of several constituents to the liquid phase.

Socialists vs. fascists and communists in Italian São Paulo in the 1920s

The action of São Paulo's Italian reformist socialists at the beginning of the 20th century had a political impact on the way of considering the question of democracy both in the state of São Paulo and the whole of Brazil. In fact not only did the socialists oppose the fascist political project and the symbolic roots of its aggressive behavior, but they also faced the opposition of the theoretical proposals coming from other leftist groups. This article intends to present the main interlocutors of these socialists and understand how this theoretical dispute has developed.

Two essays on development economics

Includes bibliography

O leitor nas trilhas do texto: um diálogo entre a teoria de Umberto Eco e a poética da leitura de Jorge Luis Borges

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)