Recursos de colección

UTL Repository Universidade Técnica de Lisboa (37.000 recursos)

O Repositório Institucional da Universidade Técnica de Lisboa desenvolvido no âmbito do projecto RCAAP. Este repositório destina-se a recolher, preservar e disponibilizar o acesso às publicações científicas e didácticas de seis: Escolas da UTL: Faculdade de Medicina Veterinária, Instituto Superior de Agronomia, Instituto Superior de Economia e Gestão, Instituto Superior de Ciências Sociais e Políticas , Faculdade de Motricidade Humana, Faculdade de Arquitectura. O Instituto Superior Técnico, igualmente Escola Da UTL, tem repositório independente.

Mostrando recursos 1 - 3 de 3

  1. A note on conspicuous leisure, animal spirits and endogenous cycles

    Weder, Mark
    This paper investigates general equilibrium effects of conspicuous leisure. It finds that leisure externalities reduce the degree of other market im- perfections needed to generate indeterminacy or sunspot equilibria – endogneous cycles become empirically more plausible. Sunspot equilibria are possible with a downward-sloping labor demand schedule. The economic reasoning behind the result is that with conspicuous-externalities, labor is drawn more easily in and out of leisure to help fulfill agents’ expectations.
    - 26-may-2018

  2. A general equilibrium framework for the affine class of term structure models

    Nunes, João Pedro Vidal
    The Duffie and Kan (1996) model, which can be considered as the most general affine term structure formulation, was originally specified in terms of risk- adjusted stochastic processes for its state variables. The goal of the present paper is to derive a Duffie and Kan (1996) model’ specification under the physical probability measure that is compatible with the formulation given by the authors under the equivalent martingale (“money market account”) measure. For that purpose, the Duffie and Kan (1996) model will be fitted into a general equilibrium monetary framework. The resulting analytical solution for the vector of factor’ risk premiums...
    - 26-may-2018

  3. Institutions and economic growth in Portugal : a quantitative exploration

    Tavares, José
    This paper presents a broad diagnostic of the level of institutional development in Portugal in the legal, corporate governance and financial systems. A comparative assessment suggests that Portuguese institutions are less developed than their European Union and EastAsian counterparts, more developed than Greek institutions and on a level similar to that of Spanish institutions.We use data for a wide cross-section of countries since 1960 and correlate indicators of institutional development with the long-term average growth rate, identifying issues where reform is likely to significantly affect economic growth. We construct three new indices that measure the potential of institutional reform –...
    - 26-may-2018

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