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Search Results: 1 - 10 of 14474 matches for " Marcelo;Resende "
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The determinants of advertising intensity in the Brazilian manufacturing industry: an econometric study
Resende, Marcelo;
Nova Economia , 2006, DOI: 10.1590/S0103-63512006000300002
Abstract: the paper econometrically investigates the determinants of advertising intensity in the manufacturing industry of s?o paulo, brazil in 1996 taking as reference an extensive survey carried out by funda??o seade. the preliminary investigation indicated a substantial degree of endogeneity in structure and performance variables. the instrumental variables estimation also considered instruments referring to information technology and organizational practices and indicated relevant roles for industrial concentration, barriers to entry, profitability and prevalence of durable goods in explaining advertising intensity. the results lend some support to an informative role of advertising in the brazilian case.
Profit persistence in Brazil: a panel data study
Resende, Marcelo;
Estudos Econ?micos (S?o Paulo) , 2006, DOI: 10.1590/S0101-41612006000100005
Abstract: the paper investigates the persistence of profits for industrial firms in brazil during the periods 1986-98 and 1994-1/1999-3. a simple theoretical framework justifies an autoregressive formulation for excess profits. a strong form of persistence can then be related to the presence of a unit root. recently developed panel data unit tests enable the consideration of short time periods. the results thus obtained for two different measures of excess profitability mostly favour the presence of a unit root. therefore, despite an apparently more competitive environment in the brazilian economy one can still observe extremely persistent profits.
Retornos para educa??o no Brasil: evidências empíricas adicionais
Marcelo, Resende;Wyllie, Ricardo;
Economia Aplicada , 2006, DOI: 10.1590/S1413-80502006000300003
Abstract: the paper econometrically investigates returns for education in brazil, taking as reference data from the pesquisa sobre padr?o de vida (ppv-ibge) previously not explored in that context. earnings equations are considered for men and women in terms of the sample selection correction procedure conceived by heckman, including a measure for quality in education and a more direct measurement of experience. the obtained results indicate similar returns as compared to the previous literature.
Aglomera??o industrial no Brasil: um estudo empírico
Resende, Marcelo;Wyllie, Ricardo;
Estudos Econ?micos (S?o Paulo) , 2005, DOI: 10.1590/S0101-41612005000300002
Abstract: the article measures industrial agglomeration in the brazilian manufacturing industry in 1995 and 2001. it considers measures that were recently developed by ellison and glaeser (1997), maurel and sédillot (1999) and devereux et al. (2004) that rely in microdata and are theoretically sound. the evidence indicated that a substantial heterogeneity was present across the different sectors. among the leaders there are sectors with very different technological content that only partially coincide with the leading sectors in france and united kingdom. moreover, one can observe substantial changes in the agglomeration patterns between 1995 and 2001.
Demands for short-run assets and liabilities in Brazil: a portfolio approach
Silva, Evandro;Resende, Marcelo;
Revista Brasileira de Economia , 2006, DOI: 10.1590/S0034-71402006000100004
Abstract: the study explores the behavior of the short run demands for assets and liabilities in the brazilian industry during the 1990-1998 period based on portfolio theory. the implied set of demand equations is estimated for different sub-periods indicating that short-term demand patterns do not substantially differ when one compares the overall sample for 1990-98 and the sample pertaining a more stable period during 1994-98. good support was found for explanatory factors referring to the stock of long term (nonchoice) items and variables approximating the activity level of the firm and the economy. the responsiveness of short-run assets and liabilities to relative returns (costs) of those items was weaker than previous studies for the u.k (hay and louri (1989, 1991, 1996)).
Banking and regional inequality in Brazil: an empirical note
Resende, Marcos Lima Marcelo;
Revista de Economia Política , 2008, DOI: 10.1590/S0101-31572008000400008
Abstract: the paper investigates a neglected aspect of regional inequality in brazil, namely regional inequalities related to financial flows. a synthetic regional financial inequality index is proposed and calculated in a semester basis over the 02-1994/02-2000 period. the inequality measure attempts to capture to what extent deposits in a given state translate into credit operations in that locality. two main results emerge. first, non-negligible inequality patterns emerge when one considers the segment of private banks and those are consistent with an important proportion of states with a predominantly exporting pattern, for which deposits surpasses loans in that locality. second, if one focus on the segment of public banks, an opposite pattern appears, that is consistent with decision patterns that might have, in part, a regional development motivation.
Retornos para educa o no Brasil: evidências empíricas adicionais
Marcelo Resende,Wyllie Ricardo
Economia Aplicada , 2006,
Abstract: O artigo investiga econometricamente os retornos para educa o no Brasil, tomando como referência dados da Pesquisa sobre Padr o de Vida (PPV-IBGE) antes n o explorados nesse contexto. Equa es de rendimentos para homens e mulheres s o consideradas mediante o procedimento para corre o do efeito de seletividade amostral concebido por Heckman, incluindo uma medida de qualidade para educa o. Os resultados obtidos apontam para retornos semelhantes à literatura anterior.
Colus?o ótima com monitoramento imperfeito: teste do modelo de Abreu-Pearce-Stachetti para os mercados brasileiros regionais de cimento
Zeidan, Rodrigo M.;Resende, Marcelo;
Economia Aplicada , 2010, DOI: 10.1590/S1413-80502010000100003
Abstract: the paper considers the application of the non-parametric test proposed by stateberry and briggs (1988) for the model of collusion with imperfect monitoring by abreu et al (1986) in the context of regional cement markets in brazil during the 1992-2003 period. the test focuses on the implication of that model according to which the prices would follow a first-order markov process. the evidence does not indicate the prevalence of optimal collusion in those markets.
Accounting and Economic Rates of Return: A Dynamic Econometric Investigation
Rodrigo M. Zeidan,Marcelo Resende
Revista Brasileira de Finan?as , 2010,
Abstract: Many studies have questioned empirical utilization of accounting data, as internal rates of return would be more consistent with the relevant economic concept. The paper investigates the dynamic relationships between different measures of accounting rates of return (ARRs) and an estimated internal rate of return (IRR). In contrast with the prevailing case-study investigations, we consider a panel for quoted Brazilian firms in the manufacturing industry for the 1988-3/2003-2 period. Granger causality tests are considered and the results indicate a bi-directional causality pattern when ROA (Net Profits/Total Assets) is considered as the accounting measure. This seems to indicate that there is some validity in using accounting rates of return in certain economic settings, especially when long time series are considered.
Testes de racionalidade para loterias no Brasil
Lima, Marcos A. M.;Resende, Marcelo;
Economia Aplicada , 2006, DOI: 10.1590/S1413-80502006000200002
Abstract: the paper investigates the prevalence of rational expectations in the case of two brazilian lotteries (quina and mega-sena). the testing strategy relates to an orthogonality condition between the conditional forecast error and the information set. specifically, the residual of a equation for net price of a lottery ticket should be uncorrelated with sales the results favoured the rational expectations hypothesis only in the case of the mega-sena that is subject to broad media coverage. clearly the quina lottery is associated with a diferent profile of betters.
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