ONO PROGRAM GUIDEBOOKeesp.fgv.br/sites/eesp.fgv.br/files/file/doutorado_2016-site_0.pdf ·...

GRADUATEPROGRAMGUIDEBOOK

SA

O P

AU

LO

SC

HO

OL

OF

EC

ON

OM

ICS

// G

RA

DU

AT

E P

RO

GR

AM

GU

IDE

BO

OK

Rua Itapeva, 474 - Bela Vista

São Paulo, SP - 01333-000

Phone: +55 11 3799.3350

www.fgv.br/eesp

2 3

04 DEPARTMENT OVERVIEW

06 GRADUATE PROGRAM REQUIREMENTS

11 FIELDS OF RESEARCH

• Applied Microeconomics

• Econometrics

• Economic Theory

• Financial Economics

• Empirical Finance

• Macroeconomics and Intenational Economics

• Public Economics

35 FACULTY MEMBERS

TABLE OF CONTENTS

4 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 o�ered by the department foster an intellectually

active and stimulating environment. Students are expected to devote

themselves full-time to the program.

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.

DEPARTMENT OVERVIEW

6 7

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 �rst year of study in order to acquire a �rm

foundation for their subsequent work.

CORE COURSES (FIRST YEAR)

The Department o�ers 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 O�ce with speci�c

documents in order to be enrolled in courses: Temporary Visa Item IV,

RNE and CPF. For further information please refer to: http://economics-

sp.fgv.br/graduate-program/admission.

GRADUATE PROGRAM REQUIREMENTS

8 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.

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 �eld courses. The following

�eld courses are o�ered 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.

10 11

Development Economics

Development Economics is the �eld that studies the theories and problems

related to economic problems of developing economics. It includes many

sub�elds 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 �rms 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 sub�elds 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 di�erent sub�elds. 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

di�erent topic in education.

APPLIED MICROECONOMICS

FIELDS OF RESEARCH

YEAR 1

Preparation Courses (January-February)

Probability and Statistics

Mathematics for Economists

Autumn Quarter (March-May)

Microeconomics I

Macroeconomics I

Econometrics I

Winter Quarter (June-July)

Microeconomics II

Macroeconomics II

Econometrics II

Spring Quarter (August-September)

Microeconomics III

Econometrics III

Macroeconomics III or Economic Growth.

Summer Quarter (October-December)

Microeconomics IV

Econometrics IV

Macroeconomics IV, or Topics in

Macroeconomics, or Topics in Economic

Growth.

RECOMMENDEDPLAN OF STUDY

YEAR 2

Autumn Quarter (March-May)

Applied Macroeconomics

2 Field Courses

Winter Quarter (June-July)

3 Field Courses

Spring Quarter (August-September)

3 Field Courses

Summer Quarter (October-December)

Applied Microeconomics

2 Field Courses

YEAR 3

Research Seminar and presentation of a Thesis

Proposal Seminar.

YEAR 4

Completion of the Doctoral Thesis.

The recommended plan of study is as follows. Note that depending on their �elds of interest

and on the department’s �eld course o�erings in a given year, students may not be able to

�nish all their courses by the end of their second year.

12 13

Selected Publications of our Faculty Members

Spillovers from conditional cash transfer programs: bolsa família and

crime in urban brazil

Rodrigo R. Soares ( with Laura Chioda, João M. P. de Mello)

Economics of Education Review, 2015.

Water Scarcity and Birth Outcomes in the Brazilian Semiarid

Rodrigo R. Soares (with R. Rocha)

Journal of Development Economics, 2015.

Access to justice and entrepreneurship: Evidence from Brazil’s special

civil tribunals

Rodrigo R. Soares (with Guilherme Lichand)

The Journal of Law & Economics, 2014.

The UK Productivity and Jobs Puzzle: Does the Answer Lie in Wage

Flexibility?

João Paulo Pessoa (with Van John Reenen)

The Economic Journal - Media: The Economist, Reuters, BBC News, The New York

Times, The Washington Post Wonkblog and Vox, 2014.

Trading dynamics in decentralized markets with adverse selection.

Braz Camargo (with Benjamin Lester)

Journal of Economic Theory, 2014.

Understanding Mechanisms Underlying Peer Effects: Evidence from a

Field Experiment on Financial Decisions

Bruno Ferman (with Leonardo Bursztyn, Florian Ederer, and Noam Yuchtman)

Econometrica, 2014.

Industrial Organization

Sao Paulo School of Economics regularly o� ers two courses in Industrial

Organization. The � rst covers the main topics on the strategic behavior

of � rms, such as standards of competition, price and di� erentiation

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, � rm boundaries, network externalities

and multi-sided platforms. Depending on the number of interested

students, additional courses related to Industrial Organizations may be

o� ered, on topics such as structural econometric methods in Industrial

Organization.

Currently, two faculty members carry out research in Industrial

Organization and related � elds. 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.

14 15

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)


Segmentation in the Brazilian Labor Market

Vladimir Ponczek (with Fernando Botelho)


Dry Law and Homicides: Evidence from the São Paulo Metropolitan

Area

João M P Mello (with Ciro Biderman and Alexandre Schneider)

Economic Journal, 2010.

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.

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)


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.)


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


16 17

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 � rst two quarters of the program. These

� rst 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 � elds and

interact regularly with the � eld. For example, Enlinson Mattos, Vladimir

Ponczek, Andre Portela and Rodrigo Soares study problems related to

economics of education, labor economics, crime, health economics,

public � nance, etc. In addition, Marcelo Fernandes, Pedro Valls and João

Mergulhão work with � nancial econometrics.

ECONOMETRICS

Birth Order, Child Labor, and School Attendance in Brazil.

André Portela Souza (with Patrick M EMERSON)

World Development, 2008.

How Beliefs about HiV affect risky Behaviors: evidence from Malawi

Áureo de Paula (with Gil Shapira and Petra Todd)

Journal of Ap, 2008.

Health and the Evolution of Welfare across Brazilian Municipalities.

Rodrigo Soares


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)


Development, Crime, and Punishment: Accounting for the

International Differences in Crime Rates.

Rodrigo Soares


Crime Reporting as a Measure of Institutional Development.

Rodrigo Soares


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)


18 19

Nonparametric entropy-based tests of independence between

stochastic processes

Marcelo Fernandes (with B. Neri)

Econometric Reviews, 2009.

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)


A family of autoregressive conditional duration models

Marcelo Fernandes (with J. Grammig)


Nonparametric specifi cation tests for conditional duration

models

Marcelo Fernandes (with J. Grammig)


A multivariate conditional autoregressive range model

Marcelo Fernandes (with B. Mota and M. Rocha)

Economic Letters, 2005.


Measuring peer effects in the Brazilian school system

Sergio Firpo and Cristine Pinto ( with Hugo Jales)

Applied Economics, 2015.

Identifi cation and Estimation of Distributional Impacts of Interventions

Using Changes in Inequality Measures.

Sergio Firpo and Cristine Pinto

Journal of Applied Econometrics, 2015.

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.

Existence and uniqueness of a fi xed point for local contractions

Victor Filipe Martins-da-Rocha (with Y. Vailakis)

Econometrica, 2010.

Interdependent Durations

Áureo de Paula (with Bo E. Honore)

Review of Economic Studies, 2010.

Inference in a Synchronization Game with Social Interactions

Áureo de Paula


20 21


The Value of Commitment under Uncertainty

Braz Camargo (with E. Pastorino)

Journal of Labor Economics, 2015

Learning with Bounded Memory in Games

Daniel Monte

Games and Economic Behavior, 2014.

The Daycare Assignment: A Dynamic Matching Problem

Daniel Monte (with J. Kennes and N. Tumennasan)

American Economic Journal: Microeconomics, forthcoming, 2014.

The Value of (Bounded) Memory in a Changing World

Daniel Monte (with Maher Said)

Economic Theory, forthcoming, 2014.

Incentive Constraints in Games with Bounded Memory

Daniel Monte

International Journal of Game Theory, forthcoming, 2014.

Bounded Memory and Permanent Reputations

Daniel Monte

Journal of Mathematical Economics, forthcoming, 2013.

Matching with Quorums

Daniel Monte (with Norovsambuu Tumennasan)

Economics Letters, 2013.

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

� nance. Victor Filipe Martins-da-Rocha works on economic theory and

general equilibrium. Victor is currently at the editorial board of Economic

Theory.

ECONOMIC THEORY

22

23

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)


Effi cient Dissolution of Partnerships and the Structure of Control

Emanuel Ornelas (with John Turner)


Good News and Bad News in Two-Armed Bandits

Braz Camargo


On the Long Run Effects of Fashion.

Luis Araújo (with Raoul Minetti)

Economic Inquiry, 2007.

Asset market equilibrium with short-selling and differential information.

Victor Filipe Martins-da-Rocha (with W. Daher and Y. Vailakis)


Harsh default penalties lead to Ponzi schemes: A counterexample.

Victor Filipe Martins-da-Rocha (with Y. Vailakis), 2012


Endogenous debt constraints in collateralized economies with default

penalties.



Existence and uniqueness of a fi xed point for local contractions.


Econometrica, 2010.

\On equilibrium prices in continuous time.

Victor Filipe Martins-da-Rocha (with F. Riedel)


Financial markets with endogenous transaction costs.



Interim effi ciency with MEU-preferences.

Victor Filipe Martins-da-Rocha


Interracial Friendships in College

Braz Camargo (with Ralph Stinebrickner and Todd Stinebrickner)

Journal of Labor Economics. 2010.

Equilibrium theory with asymmetric information and infi nitely many

states.

Victor Filipe Martins-da-Rocha (with Hervés-Beloso and P. Monteiro)


24 25

Students planning to do their research in Financial Economics will � nd a

diversi� ed 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 � nance include Banking, Corporate

Finance and contract Theory. Bruno Ferman develops experimental

studies on consumer � nance. Marcelo Fernandes research interests

include asset pricing, empirical � nance, empirical market microstructure,

and � nancial econometrics. João Mergulhão works on Corporate Finance

and Social Networks, and Asset pricing. Pedro Valls � nancial 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 � nancial databases (WRDS,

Compustat, Bloomberg, Datastream, ThomsonReuters) and preferential

access to Brazilian markets data provided BMF&Bovespa and other

national players.

The Ph.D program o� ers 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.

FINANCIAL ECONOMICS

Equilibria in refl exive Banach lattices with a continuum of agents.

Victor Filipe Martins-da-Rocha (with A. Araújo, P. Monteiro)


Equilibrium analysis in fi nancial markets with countably many

securities.

Victor Filipe Martins-da-Rocha (with C. Aliprantis; M. Florenzano and R.

Tourky)


Equilibria in large economies with differentiated commodities

and non-ordered preferences.



Equilibria in large economies with a separable Banach commodity

space and non-ordered preferences.



26

27

Conditional stochastic kernel estimation by nonparametric methods

Pedro Valls Pereira (with M. Laurini)

Economics Letters, 2009.

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.

Evaluation of contagion or interdependence in the fi nancial crises of Asia and

Latin America, considering the macroeconomic fundamentals

P. L. VALLS PEREIRA (with E. F. Marçal, D. M. L. Martin & W. T. Nakamura)


The effects of structural breaks in ARCH and GARCH parameters on Persistence

of GARCH models.

• P. L. Valls Pereira and S. Hwang.

• Communications in Statistics - Simulation and Computation, 2008.•


The (semi-)parametric functional coecient autoregressive conditional duration

Marcelo Fernandes (with Marcelo Medeiros and Alvaro Veiga)

Forthcoming in Econometric Reviews, 2015.

Modeling and predicting the CBOE market volatility index

Marcelo Fernandes (with Marcelo Medeiros and Marcel Scharth)

Journal of Banking & Finance, 2015.

Assessing Competition in the Banking Industry: A Multi-Product Approach.

Klenio Barbosa (with B. Rocha and F. Salazar)

Journal of Banking & Finance, 2015.

Analysis of the Volatility´s Dependency Structure during the Subprime Crisis.

Pedro Valls Pereira (with B. Arruda)


International market links and volatility transmission

Marcelo Fernandes (with V. Corradi and W. Distaso)


Evaluation of contagion or interdependence in the fi nancial crises of Asia and

Latin America, considering the macroeconomic fundamentals.

Pedro Valls Pereira (with E. Marçal; D. Martin and T. Nakamura)


28

29


Unbundling Ownership and Control

Emanuel Ornelas (with Daniel Ferreira and John Turner)

Journal of Economics & Management Strategy

Intertemporal coordination with delay options

Luis Araujo and Bernardo Guimaraes


Limited monitoring and the essentiality of money.

Luis Araujo and Braz Camargo


Sovereign default risk and commitment for fi scal adjustment.

Bernardo Guimarães (with Carlos Eduardo Gonçalves)

Journal of International Economics, 2015.

Cash Transfers to the Poor and the Labor Market: An Equilibrium

Analysis

Tiago Cavalcanti (with Márcio Corrêa)

Review of Development Economics, 2014.

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, forthcoming, 2014.

Research in macroeconomics is concern with long-term growth, short-run � uctuations 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 e� ects on long-term growth of several

factors, including: � scal policy and � nancial 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 � nancial crises, currency attacks and sovereign debt.

He has written on several topics including the role of the IMF and the e� ects of world

interest rates on default risk in emerging economies. Professor Luis Araujo’s research is

also related to � nancial crises and, in particular, to the microeconomic aspects of credit

market failures that a� ect 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 � uctuations. 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 a� ect transactions among agents and the implications to the

macroeconomy.

MACROECONOMICS AND INTERNATIONAL ECONOMICS

30 31

Sales and monetary policy

Bernardo Guimarães (with Kevin Sheedy)


On the Essentiality of Banks


International Economic Review, 2011.

Knowledge sharing and the dynamics of social capital


European Economic Review, 2011.

Sovereign default: which shocks matter?

Bernardo Guimarães

Review of Economic Dynamics, 2011.

Women Prefer Larger Governments: Growth, Structural Transformation,

and Government Size.

Tiago Vanderlei De Vasconcelos Cavalcanti ( with J. Tavares)


Cheap Home Goods and Persistent Inequality

Tiago Vanderlei De Vasconcelos Cavalcanti (with.J. Alexopoulos)


Taylor Principle and Infl ation Stability in Emerging Market Countries.

Vladimir K. Teles (with Marta Zaidan)


Costly Intermediation and Consumption Smoothing

Tiago Vanderlei de Vasconcelos Cavalcanti (with António Antunes; Anne P. Villamil)


The Welfare Gains of Financial Liberalization: Capital Accumulation and

Heterogeneity

Tiago V. Cavalcanti (with António A. Antunes)

Journal of the European Economic Association, 2013.

US real interest rates and default risk in emerging economies

Bernardo Guimarães (with Nathan Foley-Fisher)

Journal of Money, Credit and Banking, forthcoming, 2013.

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.

Free Trade Agreements and the Consolidation of Democracy

Emanuel Ornelas (with Xuepeng Liu)

American, 2012.

Protection and International Sourcing



Sequential Exporting

Emanuel Ornelas (with Facundo Albornoz, Hector Calvo-Pardo and Gregory Corcos)


Financial dollarization and systemic risks: new empirical evidence

Márcio Holland (with F. VIEIRA and M. Resende)

Journal of International Money and Finance, 2012.

32

33

Endogenous Supply of Fiat Money

Luis Araujo and Braz Camargo


Financial Intermediaries as Markets for Firm Assets



Religion in Macroeconomics: A Quantitative Analysis of Weber’s Hypothesis.

Tiago Vanderlei De Vasconcelos Cavalcanti (withh S. L. Parente; R. Zhao)


Start Up Costs, Limited Enforcement, and the Hidden Economy

Tiago Vanderlei De Vasconcelos Cavalcanti (with António Antunes)


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-fulfi lling currency attacks

Bernardo Guimarães (with Stephen Morris)


International lending of last resort and moral hazard: a model of IMF’s catalytic

fi nance

Bernardo Guimarães (with Giancarlo Corsetti and Nouriel Roubini)


Dynamics of currency crises with asset market frictions

Bernardo Guimarães


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?


Review of Economic Dynamics, 2010.

Assessing the Engines of Liberation: Home Appliances and Female Labor Force

Participation

Tiago Vanderlei De Vasconcelos Cavalcanti (with J. Tavares)

The Review of Economics and Statistics, 2008.

Computing general equilibrium models with occupational choice and fi nancial

frictions.

Tiago Vanderlei De Vasconcelos Cavalcanti (with António Antunes; Anne P. Villamil)

Journal of Mathematical Economic, 2008.

The Effect of Financial Repression & Enforcement on Entrepreneurship and

Economic Development.

Tiago Vanderlei De Vasconcelos Cavalcanti (with António Antunes and Anne P. Villamil)


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


Trade Liberalization, Outsourcing, and the Hold Up Problem



34

Graduate students can enroll in a two trimester public economics sequence.

The � rst 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, � scal 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 o� ered. We also recommend students

to enroll in a micreconometrics course. In some years, an alternative “topics in

public economics” course may also be o� ered.

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 a� liated

with Sao Paulo School of Economics-FGV. Ciro Biderman studies the dynamics

of transportation markets and local public � nance. He is also a� liated 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 � eld at the School Public

Administration-FGV.

PUBLIC ECONOMICS AND POLITICAL ECONOMY

Information, Learning, and the Stability of Fiat Money

Luis Araújo e Braz Camargo


Price Dispersion, Information and Learning.

Luis Araújo (with Andrei Shevchenko)


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


Trade Creating Free Trade Areas and the Undermining of Multilateralism

Emanuel Ornelas


Social norms and money

Luis Araújo


The Optimal Infl ation Tax and Structural Reform

Tiago Vanderlei De Vasconcelos Cavalcanti (with Anne P.Villamil)

Macroeconomic Dynamics, 2003.

36

37

FACULTY MEMBERS

ARAÚJO, Luís

PhD, University of Pennsylvania

Research Interests: Macroeconomics, Applied Theory

BARBOSA, Klênio

PhD, Tolouse School of Economics

Research Interests: Finance, Industrial Organization, Regulation, Public Procurement

CAMARGO, Braz

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

CAVALCANTI, Tiago

PhD, University of Illinois

Research Interests: Development, Economic Growth, Macroeconomics


Optimal Sales Tax Rebates and Tax Enforcement Consumers.

Enlinson Mattos (with Marcelo Arbex)

Oxford Economic Paper, 2015.

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)


38

39

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.

PhD, University of Chicago

Research Interests: Development Economics, Applied Microeconomics

SOUZA, André Portela

PhD, Cornell University

Research Interests: Applied Microeconomics

TELES, Vladimir K.

PhD, UnB; Pós-Doc Harvard University

Research Interests: Macroeconomics, Economic Growth

FERNANDES, Marcelo

PhD, 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

PhD, 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

MONTE, Daniel

PhD, Yale University

Research Interests: Applied Theory, Game Theory, Matching

PESSOA, João Paulo

PhD, London School of Economics

Research Interests: Industrial organization, International Trade, Applied

Microeconomics

40 41

Conselho Diretor

PresidenteCarlos Ivan Simonsen Leal

Vice-PresidentesSergio Franklin Quintella, Francisco Oswaldo Neves Dornelles e Marcos Cintra Cavalcanti de Albuquerque VogaisArmando Klabin, Carlos Alberto Pires de Carvalho e Albuquerque, Ernane Galvêas, José Luiz Miranda, Lindolpho de Carvalho Dias, Manoel Pio Correa Júnior, Marcílio Marques Mo-reira e Roberto Paulo Cezar de Andrade SuplentesAntonio 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

PresidenteCarlos Alberto Lenz César Protásio Vice-PresidenteJoão Alfredo Dias Lins (Klabin Irmãos e Cia) VogaisAlexandre 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.

SuplentesAldo Floris, José Carlos Schmidt Murta Ribeiro, Luiz Ildefonso Simões Lopes (Brook� eld 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).

DiretorYoshiaki Nakano

Coordenador do Programa dePós-Graduação em EconomiaEnlinson Henrique Carvalho de Mattos

Coordenação de PesquisaLilian Furquim de C. Andrade

Coordenação EditorialEnlinson Henrique Carvalho de MattosLilian Furquim de C. Andrade ColaboradoresDaniela JunqueiraThais da Silva CabralPatricia Fiuza

FotosPatricia FiuzaShutterstock

VALLS PEREIRA, Pedro

PhD, London School of Economics - LSE

Research Interests: Econometrics, Finance

BRESSER-PEREIRA, Luiz Carlos

PhD, USP

Research Interests: Macroeconomics, Political Science

Associated Faculty

CARDOSO, Eliana

PhD MIT

Research Interests: Macroeconomics

HOLLAND, Márcio

PhD, UNICAMP; Pos-Doc, University of California at Berkeley

Research Interests: Macroeconomics

ONO PROGRAM GUIDEBOOKeesp.fgv.br/sites/eesp.fgv.br/files/file/doutorado_2016-site_0.pdf ·...

Documents

Transcript of ONO PROGRAM GUIDEBOOKeesp.fgv.br/sites/eesp.fgv.br/files/file/doutorado_2016-site_0.pdf ·...