Autor: Marcelo Rodrigues dos Santos

WP 082 – (Mis)Allocation Effects of an Overpaid Public Sector

Tiago Cavalcanti & Marcelo Rodrigues dos Santos Resumo Executivo O estudo de Tiago Cavalcanti (University of Cambridge e Insper) e Marcelo Rodrigues dos Santos (Insper) tem como objetivo investigar possíveis problemas de alocação, ou “misallocation”, gerado pelas diferenças de salários e benefícios relativamente mais generosos no setor público os potenciais efeitos de reformas do governo sobre a estrutura salarial e de aposentadoria dos funcionários públicos. A presença de um governo grande não gera necessariamente problemas de alocação na economia, caso o setor público seja produtivo e os fatores de produção (como o capital e o trabalho) sejam pagos de...

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WP 081 – Age-dependent taxes with endogenous human capital formation

Abstract – We evaluate optimal age-dependent labor income taxes in an environment for which the age-efficiency profile is endogenously determined by human capital investment. The economy is one of overlapping generations in which heterogeneous individuals are exposed to idiosyncratic shocks to their human capital investments, a key element, along with the endogeneity of human capital itself in the determination of optimal age-dependent taxes. Our model is sufficiently rich to study the role of general equilibrium effects, credit market imperfections and different forms of human capital accumulation. The very large welfare gains we find to be generated by age-dependent are lost during the transition to the new steady state if human capital is endogenous. Download do Paper Ano: 2015 Working-paper: 081 Marcelo Rodrigues dos Santos Ler todos os Posts de Marcelo Rodrigues dos Santos Share...

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WP056 – Globalization and the Industrial Revolution

ABSTRACT – This paper argues that trade specialization played an indispensable role in supporting the Industrial Revolution. We calibrate a two-good and two-sector overlapping generations model to England’s historical development and investigate how much different England´s development path would have been if it had not globalized in 1840. The open-economy model is able to closely match the data, but the closed-economy model cannot explain the fall in the value of land relative to wages observed in the 19th century. Without globalization, the transition period in the British economy would be considerably longer than that observed in the data and key variables, such as the share of labor force in agriculture, would have converged to …gures very distant from the actual ones.   Download do Paper Ano: 2013 Working-paper: 056 Marcelo Rodrigues dos Santos Ler todos os Posts de Marcelo Rodrigues dos Santos Share...

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