In 2012, the Brazilian government passed a law that mandated all federal higher education institutions to implement a 50 percent admission quota for historically disadvantaged students. I study the implications of this regulation on the academic performance of non-targeted students....

This paper studies the information content of the S&P 500 and VIX markets on the volatility of the S&P 500 returns. We estimate a flexible affine model based on a joint time series of underlying indexes and option prices on both markets. An extensive model specification analysis reveals that...