Elections and stock market volatility: evidence in OECD countries and developing countries

Este trabalho estuda se existe impacto na volatilidade dos mercados de ações em torno das eleições nacionais nos países da OCDE e nos países em Desenvolvimento. Ao mesmo tempo, pretende, através de variáveis explicativas, descobrir os fatores responsáveis por esse impacto. Foi descoberta evidência que o impacto das eleições na volatilidade dos mercados de ações é maior nos países em Desenvolvimento. Enquanto as eleições antecipadas, a mudança na orientação política e o tamanho da população foram os factores que explicaram o aumento da volatilidade nos países da OCDE, o nível democrático, número de partidos da coligação governamental e a idade dos mercados foram os factores explicativos para os países em Desenvolvimento.

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.

O direito à educação: entre o discurso e a prática

As preocupações com a promoção do sucesso educativo e a prevenção do abandono escolar partem do princípio de que todos se encontram já dentro do sistema. Ora o que a minha comunicação pretende demonstrar é que ainda antes dessa fase se coloca a questão do acesso à educação. Numa perspectiva comparativa, e a um nível macro, ressaltaremos as contradições entre o discurso enunciado e a realidade existente, direccionando o nosso olhar para Portugal, a partir de indicadores ao nível das grandes organizações internacionais, como a ONU e a OCDE.

Panorama de la Inserción Internacional de América Latina y el Caribe 2005-2006

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Panorama de la Inserción Internacional de América Latina y el Caribe 2007: tendencias 2008

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Panorama Social de América Latina 2006

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Evaluaciones del desempeño ambiental: Chile

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Perspectivas económicas de América Latina 2012: transformación del estado para el desarrollo

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Latin American Economic Outlook 2012: transforming the state for development

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Perspectives économiques de l'Amérique Latine 2012: transformaction de l'état et développement

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Perspectivas económicas de América Latina 2013: políticas de PYMES para el cambio estructural

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Latin American Economic Outlook 2013: SMEs policies for structural change

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Discurso en el Foro México 2013: Políticas Públicas para un Desarrollo Incluyente

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Perspectivas económicas de América Latina 2014: logística y competitividad para el desarrollo

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Gobernabilidad corporativa, responsabilidad social y estrategias empresariales en América Latina

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