Since the seminal contribution by Meese and Rogoff (1983), it is a known stylized fact that hard currencies' short-run movements can be best forecast by a random walk rather than by any model based on macro fundamentals. Emerging market currencies show features that depart significantly from...

Managing water and sanitation services involves a complex task due to the characteristics of the public goods which are involved. The large amount of capital requirements in their very specific forms creates the structure of natural monopolies which require either public operation or strong...

This paper presents a test of intermodal interaction between coaches and airlines in Brazil in order to check for the efficacy of recent liberalization measures designed to promote competition in both industries. Interstate travel service in the country is heavily provided by coaches, and the...

This paper aims at evaluating the influence of ownership and control concentration as well as of characteristics of the controlling shareholders on the performance of limited liability companies. To tackle this objective, a panel analysis is carried out relying on data over the period 1997-2002,...