5,771 research outputs found
A Generalization of a Gaussian Semiparametric Estimator on Multivariate Long-Range Dependent Processes
In this paper we propose and study a general class of Gaussian Semiparametric
Estimators (GSE) of the fractional differencing parameter in the context of
long-range dependent multivariate time series. We establish large sample
properties of the estimator without assuming Gaussianity. The class of models
considered here satisfies simple conditions on the spectral density function,
restricted to a small neighborhood of the zero frequency and includes important
class of VARFIMA processes. We also present a simulation study to assess the
finite sample properties of the proposed estimator based on a smoothed version
of the GSE which supports its competitiveness
Access to justice and entrepreneurship: evidence from Brazil’s Special Civil Tribunals
Entrepreneurship is usually indentified as an important determinant of aggregate productivity and long-term growth. The determinants of entrepreneurship, nevertheless, are not entirely understood. A recent literature has linked entrepreneurship to the development of the justice system. This paper contributes to this literature by evaluating the role of access to justice in determining the incidence of entrepreneurship. We explore the creation of Special Civil Tribunals in the Brazilian state of São Paulo during the 1990s. Special Civil Tribunals increased the geographic presence of the justice system, simplified judicial procedures, and increased the speed of adjudication of disputes. Using census data, and difference-in-differences and instrumental variable strategies, we find that implementation of Special Civil Tribunals led to increased entrepreneurship, defined as the probability that individuals are employers or selfemployed. Results are particularly strong and robust for the case of self-employment, and do not seem to be related to other changes in infrastructure or public good provision at the local level, or to pre-existing trends in entrepreneurship.access to justice, courts, entrepreneurship, institutions, Brazil Jel Codes: K1, K41, K42, H41, O12, O17, O54
The Development of the Brazilian Bio-electricity Market: An Historical Analysis of the Institutional Changes in the Sugarcane and Electricity Markets
Crop Production/Industries, Resource /Energy Economics and Policy,
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