Public-private income gap in Brazil: a counterfactual analysis

The study investigated the gap of public-private income through the Decomposition of OaxacaBlinder, quantile regression and Melly’s Quantile Decomposition through the PNAD data of 2013. The results for the Oaxaca Decomposition showed that the total gap, about three quarters are due to productive attributes and the rest is due to sectoral differences between the groups. The quantile regression found a growing behavior of the gap, while quantile decomposition showed that the workers closest to the median quantile have a higher wage premium, and even negative in the last quantile

Determinação da taxa de câmbio pela paridade do poder de compra usando VAR

Usando a metodologia de Vetores Auto-Regressivos (VAR) a partir da abordagem monetária da Purchasing Power Parity (PPC), o artigo elabora a previsão out-of-sample da taxa de câmbio, real por dólar (R$/US$). Em especial, após testar 8 modelos VAR com e sem restrições nos coeficientes, com variáveis de índices de preços ao consumidor e câmbio em nível, em primeiras diferenças, acumulado anualizado e primeira diferença do acumulado anualizado, foram selecionados pelos critérios da análise dos resíduos e estabilidade dos modelos 3 modelos VAR para determinação da taxa de câmbio. Como resultados: (i) os modelos VAR selecionados para previsão, apontam apreciação do real nos próximos períodos; (ii) modelos VAR com restrição estatística nos coeficientes suavizam os resultados da previsão da taxa de câmbio, ou seja, apesar de indicar apreciação do real perante o dólar, a queda é menor do que modelos VAR sem restrição

Transações entre suinocultores e agroindústrias no Estado de Santa Catarina (Brasil): um exame de contratos sob enfoque institucional

The objective of this study is to analyze three partnership contracts between agro industry pork meat processor and pig farms in the state of Santa Catarina (Brazil). This kind of governance will be studied in the light of New Institutional Economics, which is based on limited rationality and opportunism of the economic agents. Thus, the contracts were reviewed based on asset specificity, frequency and uncertainty - three dimensions of transactions that are critical to the adoption of the mode of governance (market, hierarchy or combination of methods) so that it is conducive to the reduction of transaction costs. It is concluded that the contracts are an option but the progress must occur for there to be a better balance between the parties for the maintenance of activity in the long term.Esta pesquisa objetiva a análise de três contratos de parceria num processo de criação de suínos no Estado de Santa Catarina (Brasil), correspondentes à integração modelo UPL (Unidade de Produção de Leitões), com contrato de compra e venda, e ao modelo UT (Unidade de Terminação), em contrato de parceria. A integração entre as agroindústrias e os produtores rurais será estudada à luz da Nova Economia Institucional (NEI), que tem suas bases fundamentadas na racionalidade limitada e no elevado senso de oportunismo dos agentes que transacionam. Destarte, os contratos foram analisados conforme a especificidade dos ativos, a frequência e a incerteza – três dimensões das transações que são fundamentais para a adoção do modo de governança (mercado, hierarquia ou formas mistas) de modo que se propicie a redução dos custos de transação. Conclui-se que os contratos constituem uma opção, no entanto avanços devem ocorrer para que haja um melhor equilíbrio entre as partes para a manutenção da atividade no longo prazo

GROWTH CONVERGENCE IN SOUTH AMERICA

This study analyzed the influence of structural change on GDP convergence in Argentina, Brazil and Uruguay (ABU) in the context of a Keynesian model with balance of payments constraints. Empirical evidence suggested that income and structural convergence were associated in the post-II World War period. The differences in industrial and economic policies in ABU may have contributed to explain the intensity of the process of structural change in these countries. ABU exhibited a different ability to reshape their institutions with a view to encouraging industrial transformation. The Brazilian industrial policy seems to have been more efficient in promoting structural convergence

DOES THE STOLPER-SAMUELSON THEOREM HOLD WITH LESS TRADE DISTORTION?: A COMPUTABLE GENERAL EQUILIBRIUM

This paper examines the effects of agricultural trade policy changes in the Brazilian agriculture using CGE model. An extended Salter-Swan model is employed to verify if the Stolper-Samuelson theorem holds and the consequences in terms of prices, production and resources allocation. Results show that the Stolper-Samuelson hypothesis is reversed when imports and domestic goods are poor substitutes. The reduction in the import tariff increases national income, implying that inappropriate trade policy adjustments can stand in the way of promoting rapid and equitable growth of the economy

PRESENCE OF STOCHASTIC ERRORS IN THE INPUT DEMANDS: ARE DUAL AND PRIMAL ESTIMATIONS EQUIVALENT?

This study verifies the primal and dual approaches in presence of stochastic errors in output and input demands, and policy implications when such errors are not taken into account. A data set based on a representative agent behavior is created through Monte Carlo simulation and used to estimate econometrically the primal and dual functions associated to the technology chosen. Results show that both formulations are unbiased, consistent, and efficient. No consideration of these errors can lead to wrong policy recommendations in a productive sector. Any kind of policy created to improve the total production of a particular sector has to consider the issues so far discussed to avoid such bias problems and inefficiency before be applied to the real world

DIREÇÃO DA CAUSALIDADE ENTRE DESENVOLVIMENTO FINANCEIRO E CRESCIMENTO ECONÔMICO NO BRASIL

Este trabalho discute as relações causais entre desenvolvimento financeiro e crescimento agropecuário no Brasil sob a ótica da causalidade entre desenvolvimento financeiro e crescimento econômico. Para isso, através de dados para o período de 1975 a 2001, um modelo econométrico foi estimado e aplicado o teste de causalidade de Granger. Resultados confirmam a existência de causalidade do desenvolvimento financeiro para o crescimento agropecuário, como sugerido pela literatura, indicando que através da intermediação financeira poderia haver um aumento na magnitude do efeito da melhora do desenvolvimento financeiro no crescimento agropecuário e teria reflexo na economia como um todo

Mensuração das Elasticidades-preço da Demanda, Cruzada e Renda no Mercado de Etanol Brasileiro: um estudo usando painéis cointegrados

The future shortage of fossil energy is not shared by the entire academy, but the need of renewable energy sources is a consensus. Based on this, the ethanol from sugarcane in Brazil becomes an excellent energy alternative by offering better indicators, such as: less land intensity, lower production costs and larger CO2 reduction when compared with other energy producing crops. However, there are no studies that estimate the long run ethanol demand using panel data or either estimate it at regional level. Therefore, this study aims to estimate the price, income and cross price demand elasticities for ethanol in the short and long run. The estimates are both at national and regional levels for Brazil, from July 2001 to July 2011, on a monthly basis. Panel data econometrics are used and forecasts use the following estimators: General Least Squares (GLS) with correction for heteroscedasticity for short run and Dynamic Ordinary Least Squares (DOLS) for long run. Results indicate that ethanol is price elastic, with elasticity around -1.42 and -3.30 for the short and long run, respectively. There was an increase of cross and price elasticities in the short run in the post-flex period