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 literature review aims to systematize the knowledge about the relationship between exports and firm performance, in developed countries, developing countries and in Brazil. Especially, this review pays particular attention to the learning-by-exporting hypothesis, that is, firms' performance...

United States and India represent trade partners with strong demand for Brazilian food or interesting potential for future business. Here the objective was to verify the importance and potential in USA and Indian markets for Brazilian agricultural exports. Results based on identifying products...

The paper discusses the role of air cargo as a competitive instrument for Brazilian manufacture, examining foreign trade data broken down by chapters of the Harmonized System (HS), and comparing the share of air cargo with other economies. The analysis was performed in two steps. The first...

The rise of global value chains (GVC) across sectors raises new challenges to the analysis of countries' competitiveness and their industries. This paper analyzes how the leather-footwear complex is positioned in the global market after the reconfiguration of the international market occurred...

The analysis of the domestic content of exports has called the attention of a number of authors in the last years, with the growing importance of global value chains. As long as manufacturing production is increasingly fragmented between several countries and firms, the country responsible for...

It is renowned the importance of trade balance for maintaining macroeconomic equilibrium. So, the objective of the study was to identify main products in Brazilian agricultural exports from 1989 to 2012 and, secondly, to describe the identified products and formulate questions for future...

The main objective of this study was to analyze the recent international trade database developed by the OECD, WTO and Unctad, which took into account the perspective of value added, unlike other bases that considers the gross data. From the initial focus of the service chain, it was found that...

In contrast to what both traditional economic theory and the conventional wisdom among most Brazilian macroeconomists would suggest, recent studies point to a low exchange rate elasticity of Brazilian imports. In this study we provide a rationale for this result by revisiting the behavior of...