Navegando por Autor "Gomes, Fábio Augusto Reis"

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Consumption in South America: myopia or liquidity constraints?
(2008) Paz, Lourenço Senne; Gomes, Fábio Augusto Reis
In this paper, we consider Brazil, Colombia, Peru and Venezuela for a study on aggregate consumption behavior, in which we test the life cycle-permanent income hypothesis prediction that consumption growth depends only on interest. Our results suggest that only Venezuelan data supported this prediction. To identify possible reasons for rejection in the other cases, we checked for liquidity constraints, myopia and perverse asymmetry. We found that for Brazil the perverse asymmetry was rejected, whereas for Colombia the liquidity constraint hypothesis was rejected. The results were uninformative about Peruvian consumption
Estimating the elasticity of intertemporal substitution taking into account the precautionary savings motive
(2015) Gomes, Fábio Augusto Reis; PRISCILA FERNANDES RIBEIRO
Heterogeneity in the Returns to Education and Informal Activities
(2010) Arbex, Marcelo; Galvao, Antonio F.; Gomes, Fábio Augusto Reis
This paper investigates the e§ects of schooling on agentís informal earnings. We present a two-period model of informal activities and schooling, and test its implications using a survey of informal workers in Brazil. The model implies that there exists an education premium in the informal sector, at least for high skilled workers. We estimate the model using instrumental variables quantile regression approach, which is able to accommodate an interaction between education and unobserved ability in the earnings function. The Öndings suggest that returns to schooling are positive and monotonically increasing along the quantiles of the earnings distribution.
The Stationarity of Consumption–Income Ratios: Evidence from South American Countries
(2008) Gomes, Fábio Augusto Reis; Franchini, Douglas de Souza
The aim of this paper is to analyze the order of integration of the consumption–income ratio in 10 South American countries. To fulfill this purpose, the individual ADF test, its panel versions [Maddala and Wu (1999) and Choi (2001)] and the Minimum LM unit root test with structural break(s) [Lee and Strazicich (1999, 2003)] were employed. While the former tests found more favorable evidence to an integrated process, after controlling for structural breaks only Uruguay seems to be integrated. Thus, in general, the consumption-income ratio was diagnosed as a stationary process, as suggested by the relative income hypothesis, the habit persistence model, the permanent income hypothesis and the life cycle hypothesis.