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Consumption-wealth ratio and expected stock returns: evidence from panel data
(2015-03-20)
This paper investigates the role of consumption-wealth ratio on predicting future stock returns through a panel approach. We follow the theoretical framework proposed by Lettau and Ludvigson (2001), in which a model derived ...
The corruption in South America. An approach from the forensic audit
(2019)
Corruption has been forged as one of the key pillars on which governments at the global level focus much of their combat policies. The present research work analyzed doctrinally and empirically the indicators designed and ...
Múltiplos e seus determinantes: um estudo para o mercado de ações brasileiro
(2015-01-26)
Esse trabalho tem como objetivo investigar a relação entre três múltiplos específicos (Preço/Lucro, Preço/Valor Patrimonial e Preço/Vendas) e seus determinantes (crescimento, payout ratio, risco, ROE e margem líquida), de ...
Transferências e dispersão das políticas de educação nos municípios brasileiros
(2014-08-11)
O trabalho visa mensurar os efeitos das transferências intergovernamentais sobre as políticas públicas voltadas à educação fundamental. A hipótese que investigamos é a de que as transferências incondicionais aumentam a ...
Correcting the fixed-effect estimator for endogenous switching
(2007-07-20)
In this paper, we propose a two-step estimator for panel data models in which a binary covariate is endogenous. In the first stage, a random-effects probit model is estimated, having the endogenous variable as the left-hand ...
How big are the differences in the informal sector wage gap in Argentina? : evidence using quantile regression on panel data
(Universidad de San Andrés. Departamento de Economía, 2019-08)
I estimate a quantile regression (QR) to assess informal wage penalties at different points along the conditional wage distribution in Argentina and within the country. I exploit a panel data set from a quarterly household ...
Testing for heteroskedasticity in fixed effects models
(Elsevier, 2014-01)
We derive tests for heteroskedasticity after fixed effects estimation of linear panel models. The asymptotic results are based on a ‘large N–fixed T’ framework, where the incidental parameters problem is bypassed by utilizing ...