In this paper, we extend the usual models of irreversible investment under uncertainty by introducing the stock of public capital as an input for the private sector. Public investment takes place in a stochastic environment. Public capital then increases the productivity of private capital which...

In this paper, we propose to explain capital accumulation in a stochastic framework by taking into account the two main motives for investment. Specifically, firms invest to expand capacity and to replace old machines. The model considers irreversible investment under uncertainty and embodied...

This paper presents a non-technical overview of the recent investment literature with a special emphasis on the connection between technological progress and the investment decision. First of all, we acknowledge that some dramatic advances have been made in the 1990s in understanding and...

Este trabalho analisa a dinâmica do prêmio salarial urbano no Brasil e a relação entre a queda do prêmio salarial e a trajetória da desigualdade de rendimentos no país. A partir dos dados da Pesquisa Nacional por Amostra de Domicílios (PNAD) nos anos 2002 e 2009, são obtidos dois...

This paper seeks to analyze the set of characteristics that can explain the existence of slums (favelas) in Brazilian cities, based upon microdata from the 1999 edition of the National Household Survey (Pnad), published by the Brazilian Institute of Geography and Statistics (IBGE). The paper is...

This paper seeks to estimate the demand for housing and urban services in the major Brazilian metropolitan areas (MAs), as a contribution for the formulation of public policies of urban development. The theoretical approach used is the hedonic prices model (Rosen, 1974), which relates price with...

O trabalho procura analisar os riscos e as oportunidades inerentes à gestão e à alocação das rendas provenientes da exploração de recursos naturais no Brasil. Inicialmente, discute-se a questão da maldição dos recursos naturais e, com base na experiência internacional, são...

This paper presents a non-technical overview of the recent investment literature witha special emphasis on the connection between technological progress and theinvestment decision. First of all, we acknowledge that some dramatic advances havebeen made in the 1990s in understanding and modelling...

In this paper, we extend the usual models of irreversible investment underuncertainty by introducing the stock of public capital as an input for the privatesector. Public investment takes place in a stochastic environment. Public capital thenincreases the productivity of private capital which is...

In this paper, we propose to explain capital accumulation in a stochasticframework by taking into account the two main motives for investment. Specifically,firms invest to expand capacity and to replace old machines. The model considersirreversible investment under uncertainty and embodied...