Research

Custo e Acesso ao Crédito no Brasil (do projeto IPEA - Eficiência Produtiva para o Futuro)

The Substitute Model of Dividends at Work: a change in minority shareholder protection (with Paulo Sergio Ribeiro and Antonio Sanvicente).

Inflation Targeting Mattered: a multivariate synthetic control approach (with Robison Kudamatsu and Vladimir Teles).

Comparative Advantages and Technology Levels (with Eduardo Correia de Souza).

R&D intensity and Vertical Differentiation (with Eduardo Correia de Souza and Rodrigo Moita).

Immediacy, Illiteracy and Savings: the case of Brazil.

The Demographic Transition, Wages Share and Asset Returns Around the World (with Italo Franca).

The Public Sector Size and the Equity Premia Around the World (with Apinyapon Seingyai). 

Monetary Policy Credibility Gains and Information Stickiness During the Great Disinflation. 

How a Development Bank Affects Productivity (with Marco Bonomo, Claudia Bruschi and Sergio Lazzarini).

Long-term stock returns in Brazil: volatile equity returns for U.S.-like investors (with Eurilton Araujo and Antonio Sanvicente), International Journal of Finance and Economics, 26, 2021, 6249-6263.

The Cross-Section of Expected Stock Returns in Brazil (with Gyorgy Varga), Brazilian Review of Finance, 14(2), June 2016, 151-187.

The After Crisis Government-Driven Credit Expansion in Brazil: a firm level analysis (with Marco Bonomo and Bruno Martins), Journal of International Money and Finance, 55, July 2015, 111-134.

Is the Brazilian Saving Enough to Retire? (with Paulo Minari - In Portuguese) Brazilian Review of Finance, 13(1), January 2015, 1-39.

Inflation Targeting Does Not Matter: another look at OECD sacrifice ratios, Journal of Money, Credit and Banking, 42(8), November 2010, 1679-1688.

Inflation Targeting in Emerging Economies: panel evidence (with Brianne Bystedt), Journal of Development Economics, 91(2), March 2010, 198-210.

The Cost of Capital and the Return of Corporate Investment in Brazil Between 1994-2008 (with Rogerio Monteiro and Gunnar Pimentel - In Portuguese), Pesquisa e Planejamento Econômico, 39(2), August 2009, 233-261.

The Growth of Direct Payouts to Shareholders in Brazil: tax savings or changing characteristics of firms? (with Monica Lima and Julio Cesar Silva), Brazilian Business Review, 6(1), January/April 2009, 59-77.

Market Timing and Brazilian Mutual Fund Performance (with Liliana Leusin - In Portuguese), Revista de Administração de Empresas (RAE), 48(2), April/June 2008, 22-36.

A escolha da estrutura de capital sob fraca garantia legal: o caso do Brasil (with Monica Lima - In Portuguese), Revista Brasileira de Economia, 59(2), April/June 2005, 177-208.

Testando as previsões de trade-off e pecking order sobre dividendos e dívida no Brasil (with Julio Cesar Silva - In Portuguese), Estudos Econômicos, 35(1), January/March 2005, 37-79.

Overreaction of Yield Spreads and Movements of Brazilian Interest Rates (with Angelo Duarte and Osmani Guillen), Brazilian Review of Econometrics, 24(1), May 2004, 1-55.

Regras Monetárias e Dinâmica Macroeconômica no Brasil: uma abordagem de expectativas racionais (with Marco Bonomo - In Portuguese), Revista Brasileira de Economia, 56(4), October/December 2002, 551-589.