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This paper uses a model to decompose nominal yields in expected shortterm future rates and the term premium. It then uses regressions to explain the determinants of the term premium in Brazil. Among external variables, U.S. term premium and monetary policy help to explain Brazilian 10-year term premium, while among domestic variables, survey expectations for inflation, GDP growth, the Selic policy rate and net debt, along with their disagreement, contribute to explain movements in the Brazilian 10-year term premium. [ABSTRACT FROM AUTHOR]

This paper examines the dependence structure between the Brazilian stock market (IBOVESPA) and some relevant global factors. The study covers the period from January 2010 to December 2020 (daily frequency) and adopts the quantile regression approach. Regarding to existing empirical literature, this work advances in two main points: i) it uses the most recent data, including the initial phase of the COVID-19 pandemic, which significantly affected world financial markets; and ii) it checks whether the global crisis, arising from the COVID-19 pandemic, affected the dependency structure and the co-movements between the IBOVESPA index and global factors. The mean results reveal that the Brazilian stock market exhibit dependence with global factors, especially regarding to the series SP&500 (SP500), oil price (WTI) and exchange rate (CAM). The US volatility index (VIX) and the US policy uncertainty index (IIP) do not significantly impact the IBOVESPA. In addition, during the COVID-19 pandemic period, it can be seen that: a) the statistical significance of the variables was verified only in some quantiles, especially in the intermediate quantiles; b) the SP500 variable had its effects accentuated; and c) the price of oil started to show a negative correlation with the returns of the IBOVESPA. Finally, the dependency structure appears to be symmetrical with respect to the quantiles, in both scenarios (crisis and non-crisis of the COVID-19 pandemic). [ABSTRACT FROM AUTHOR]

Countless industries embrace the strategy of offering packages with units of a given good at different prices per unit, by analogy we can analyze the size of the package as the level of quality of the product or service. This quantity pricing policy is called second-degree price discrimination or nonlinear price discrimination. In this paper, the problem of optimal choice of the monopoly price-discriminating firm with two consumers is presented under general conditions and in a diagrammatic and analytical way for well behaved linear demands. [ABSTRACT FROM AUTHOR]

This paper elaborated a theoretical mathematical model that verifies if the capital of the companies can control the employment level of the Industrial Pole of Manaus and maintain long-term profit at optimal levels. We use the mathematical Optimal Control Theory whose objective function is composed of the Cobb-Douglas production curve and the linear function, representing the firms' profit. As a result, the time trajectories are at optimal levels, accompanied by variations in the control element until the reestablishment of the effectiveness of the factors and the global optimality of profits, confirming the economic theory. Finally, this work shows that the modeling of economic concepts, using the Theory of Optimal Control, results in the best response to the dynamics of inputs, labor and capital, in a scenario of imbalance of firms, ensuring the best decision by levels practiced and, mainly due to the better trajectory of the factors. [ABSTRACT FROM AUTHOR]

The retail sector in the United States is undergoing an important transformation process, mainly in the last decade, due to the popularization of the internet and e-commerce. This paper aims to study extract the implicit perspectives for each company studied from the pricing of its shares trought the Gordon Model methodology. The results appoint, then, that the growth prospects for the e-commerce leader (Amazon) are much higher than the prospects for other companies, whether in the physical or online segment. The creation of important competitive advantages by Amazon has allowed it to grow faster than its competitors, including Ebay, is not achieving the same success as Amazon. [ABSTRACT FROM AUTHOR]

In this paper, we developed a CCAPM asset pricing model specific for the Brazilian real estate market, in which we included the expenses with interest payment of mortgage, and we used it to obtain estimates of the parameters of impatience and risk aversion in the real estate markets of São Paulo and Rio de Janeiro. Parameter estimates obtained via GMM indicated that the discount factor is approximately 0.98 in both cities, while the risk aversion coefficients were distinct, about 0.45 in Rio de Janeiro and 0.29 in São Paulo. This indicates that the investor in real estate in Rio de Janeiro tends to be more risk averse than in São Paulo. [ABSTRACT FROM AUTHOR]