Portuguese Abstract: Neste artigo investiga-se o que determina o fluxo de recursos para fundos de investimentos brasileiros. Constata-se que investidores são mais atentos ao risco de mercado (beta) ao avaliar fundos, enquanto tendem a atribuir o retorno de fatores como tamanho, valor, momentum,...

El modelo de valoración de activos basado en el consumo, CCAPM, ha sido objeto de estudio para distintas economías, dando lugar a diversas anomalías empíricas, entre ellas, el denominado enigma de la prima de riesgo. Los valores del parámetro de aversión relativa al riesgo necesarios para...

Asset price fluctuations: comparing rational speculative bubbles and the keynesian approach The principal aim of this paper is to analyze the limits of the conventional approach to speculative rational bubbles as an explanation for price fluctuations in financial assets. It is argued that the...

This paper has two objectives. Initially, seeks to review the main theses contained in the Brazilian economic literature on the role of the Brazilian Development Bank (BNDES) and its historical role in financing Brazilian economic development. The second objective is to analyze the perspective...

Income contingent loans (ICLs) are a financial tool that optimizes the transactional efficiencies involved in the government monopoly in taxing personal income. It protects the borrowers against periods of low income, as instalments vary according to fluctuations in their incomes over the...

This paper has two objectives. Initially, seeks to review the main theses contained in the Brazilian economic literature on the role of the Brazilian Development Bank (BNDES) and its historical role in financing Brazilian economic development. The second objective is to analyze the perspective...

Income contingent loans (ICLs) are a financial tool that optimizes the transactional efficiencies involved in the government monopoly in taxing personal income. It protects the borrowers against periods of low income, as instalments vary according to fluctuations in their incomes over the...

Muitos trabalhos recentes têm-se debruçado sobre a presença de dinâmicas de memória longa nos preços das acções devido às implicações controversas de tal constatação para a eficiência do mercado e, portanto, para os modelos martingale dos preços dos activos utilizados na economia...