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Usando um modelo de crescimento neoclássico, Prescott (2004) e Ohanian et alii (2008) explicam com sucesso as diferenças de horas trabalhadas entre países da OCDE. Aplicamos este mesmo modelo para o caso brasileiro entre 1988 e 1998. Nossa principal conclusão é que esta metodologia falha em...
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I develop a theory of intermediation in a market where agents meet bilaterally to trade and buyers cannot commit to payments. Some agents observe the past trading history of traders in the market. These informed agents can secure trades by punishing traders who previously defaulted. The...
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