General Information

Email: carlosenrique@p.ucb.br; carlos.carrasco.gutierrez@gmail.com

CV Lattes: http://lattes.cnpq.br/0881893862643600

Articles in Google Scholar: link

ORCID: https://orcid.org/0000-0003-2215-7730

Research fellow of the National Council for Scientific and Technological Development (CNPq) 

Employment

• Director of Graduate Studies / Professional Master in Public Policy - Catholic University of Brasilia (2019-present)

• Professor of the Graduate School of Economics - Catholic University of Brasilia (2010-present)

• Professor of the Graduate Program of Public Policy  - Catholic University of Brasilia (2019-present)

Education

• Ph.D. in Economics, FGV EPGE/Rio de Janeiro/Brazil (2008)

• Ph.D. in Electrical Engineering (Applied Statistics, 2006). Catholic University of Rio de Janeiro (PUC-RJ-Brazil)

• M.Sc. in Electrical Engineering (2002). Catholic University of Rio de Janeiro (PUC-RJ-Brazil)

• B.Sc. in Mechanical Engineering, (1994-1998). National University of Engineering  (UNI - Peru).

Editoral Board

• Associate Editor, A Contextus – Revista Contemporânea de Economia e Gestão  (2020-present)

• Associate Editor – Revista Razão Contábil & Finanças  (2021-present)

Econometrics, Program Evaluation,  Applied Macroeconomic,  Applied Microeconomics, Applied Financial, Time series modeling and Machine Learning.

Publications

2025

• Comparing Consumption-Based Asset Pricing Models: Evidence from Brazil (With Docha, F.). Annals of Financial Economics. Vol 20,  No. 1, 2025. 

• Evaluating the Rule of Thumb Behavior of US Consumers through Common Factor Portfolios (with Monteiro, M; Tessmann M). Review of Behavioral Finance. July 2025.

• The Impact of Internet and Computers on Young Minds: Evidence from Rural Brazilian Schools (with Ehrl, P; Charris, C.; Silva, R.). Economics Bulletin. Vol 45,  No. 1, 2025.

• Examining educational inequality across the economic life cycle in Brazil on the basis of 2018 national transfer accounts (with Correa, C.H; Turra, C.M). Notas de Población (CEPAL). Vol. 52, No. 120, pag 1-16, Jan-Jun 2025.

• Demographic changes and intergenerational reallocations in Brazil, 2003-2018 (with Correa, C.H; Turra, C.M). The Journal of the Economics of Ageing.Vol 30, March 2025.

2024

• Monetary Policy Through The Risk-taking Channel: Evidence From an Emerging Market (with Passos, F.V and Loureiro, P. R). The Quarterly Review of Economics and Finance. Vol 98, December 2024.

• Risk-taking channel of monetary policy: A cointegration analysis (with Passos, F.V and Loureiro, R.A ). Brazilian Review of Finance, Vol 22, No. 3, 77–114 (2024).

• An Application of Structural Modeling and the Kalman Filter for Commodity Price Forecasting  (with Passos). Revista de Economia e Agronegócio, v. 22 n. 2 (2024).

• The Impact of Federal Tax Subsidies on Income Inequality in Brazil (with Evangelista, C.M.S).  Revista de Economia Mackenzie, Vol. 21, No.2 (2024). 

• Volatility Transmission and Market Connectivity of Metals and Energy Commodities: Insights from the Spillover Index (with Tessmann, M.; Passos, M.; Magalhães, L; Khodr, O). International Journal of Energy Economics and Policy, 14(3), 465-476 (2024).

• Macroeconomic, industry-specific and bank-specific determinants of the profitability of Brazilian banks: dynamic panel evidence (with Bernardelli, L.). Empirical Economics, v. 66, p. 1-34, 2024. 

• Modeling and Forecasting of Industrial Production in Brazil (with Pontes L). Revista Economia Ensaios, v. 39, n. 1, 2024.  

2023

• Trade-led growth hypothesis: Evidence from Latin America countries. (with Nonato, V. L. S) Empirical Economics, 64, 727–745 (2023).

• Regional estimates of residential electricity demand in Brazil. (with Ehrl, P.) International Journal of Energy Economics and Policy, 13(1), 465-476 (2023).

• Determinants of Corn and Soybean Futures Prices Traded on the Brazilian Stock Exchange: An ARDL Approach (with Tessmann, M. Lima A.).  International Journal of Economics and Finance. Vol. 15, No. 1 (2023).

• Volatility transmissions and connectivity among metal and energy commodities: a network-econometric analysis. (with Tessmann, M.; Passos, M.; Magalhães, L; Ely, R). Journal of Economics and Finance, v. 1, p. 1, 2023. 

• Projeção da Taxa de Juros Selic na Economia Brasileira: Uma Análise Comparativa Entre Modelos de Previsão (with Passos, F.). Revista de Economia Mackenzie, v. 20, p. 38-69, 2023. 

• Efetividade e Estabilidade de Hedge em Índices de Mercado Futuro dos Estados Unidos e Brasil: Evidências da Crise Mundial de 2008 ( with Gama L.). Revista Razão Contábil & Finanças, v. 13, p. 1-21, 2023. 

2022

• Rural Credit and Agricultural Production: empirical evidence from Brazil. (with Tessmann, M.; Nascimento, D.) International Journal of Finance & Economics (2022).

• Financial Innovation and Moral Hazard: The Case of Time Deposits with Special Guarantee.(with Androvandi, G.; Tabak, B.) Applied Economics (2022).

• Testing the consumption-based CAPM using the stochastic discount factor.(with Monteiro, M.).  Brazilian Journal of Economics (Revista Brasileira de Economia). Vol. 76, No. 1, Jan-May (2022).

• Analysis of Efficiency and Productivity of the Brazilian Labor Court (with Chaves, C.; Pereira, G.; Santos, S.). Economic Analysis of Law Review. EALR, V. 13, nº 2, p. 135-160, Mai-Ago, (2022).

• Macroeconomic Factors and Value and Growth Strategies: evidence from Brazil (with Messias, I). Review of Economics and Finance, 2022, 20, 478-489

• O efeito do background familiar sobre o desempenho dos estudantes do ensino superior. (with Marquetti, A.; Moreira, R.). Revista Brasileira de Economia de Empresas. 2022; 21(2): 5-20.

Earlier Publications 

• Determinants of banking spread in Brazil and the effects of the Basel III agreement. (with Cavalcante, F.; Figueiredo, J.). Revista Economia Aplicada Vol. 25, n.2, 2021.

• Effects of human capital and physical capital on economic growth: an analysis for MRW and Mincer models. (with Martins, J.; Nogueira, A.). Revista Razão Contábil & Finanças, v. 11, N0 2 (2020).

• Wage Differential by Color and Gender in Brazil: An Analysis by Large Regions. (with Costa, M.; Reis, C.). Economia Ensaios, v. 35, p. 292-312, (2020)

• Testing the Constraints of the Intertemporal Consumption Model (CCAPM) in Latin America (with Silva, G.). Revista Razão Contábil & Finanças, v. 10, p. 16, 2019.

• A discrete dynamical system and its applications (with Sosa, W). Pesquisa Operacional, v. 39, p. 457-469, 2019.

• Elasticidade Preço e Renda da Demanda dos Jornais impressos (with Amancio, V.). Revista Brasileira de Estudos Regionais e Urbanos. Vol 12, No 2 (2018).

• Causality Between Financial Returns and the Brazilian Stock Market Returns (with Deorce, R.; Reis, A.). Revista Ambiente Contábil. Vol 1 (jan./jun. 2018).

• The Effects of Mergers and Acquisitions on the Stock Performance: Evidence from the Brazilian Stock Market (with Farias, F.). Research Journal of Finance and Accounting. Vol 8, No 6, (2017).

• The Dynamics of the Brazilian Current Account with Rule of Thumb Consumers (with Oliveira, L.). Revista Economia Aplicada v.20 n.2, de junho de 2016.

• Testing the Optimality of Consumption Decisions of the Representative Household: Evidence from Brazil (with Costa, M.). Brazilian Review of Economics. vol.69 no.3 Rio de Janeiro July/Sept. 2015.

• Aplicação do Modelo de Aceitação de Tecnologia à Computação em Nuvem" (with Duarte, B.; Ferneda, E.; Hedler, H.; Prado, H.). Perspectivas em Gestão & Conhecimento. Volume 6, Número 2, jul./dez. 2016.

• Firm Performance and Business Cycles: Implications for Managerial Accountability (with Motoki, F.). Applied Finance and Accounting, Vol. 1, No. 1, February 2015.

• Modelagem e Previsão do Preço do Café Brasileiro (with Almeida, F.) Revista de Economia, v. 39, n. 2, (2013).

• Testing the Implications of the Intertemporal Current Account Model for Brazil: 1947- 2010 (with Oliveira, L.). Análise Econômica, ano 31, n. 59 (2013).

• Evaluating Asset Pricing Models in a Simulated Multifactor Approach (with Gaglianone, W.). Brazilian Review of Finance, Vol 10, No 4 (2012).

• Impacto dos Royalties do Petróleo no PIB per capita dos municípios do Estado do Espírito Santo, Brasil (with Teixeira, A.; Ribeiro, E.). Revista Brasileira de Gestão de Negócios (São Paulo. Impresso), 2010.

• Evidence on Common Features and Business Cycle Synchronization in Mercosur (with Gomes, F.). Brazilian Review of Econometrics Vol 29, No 1 (2009).

• Selection of Optimal Lag Length in Cointegrated VAR Models with Weak Form of Common Cyclical Features (with Guillen, O.; Souza, R.). Brazilian Review of Econometrics Vol 29, No 1 (2009).

Working Papers

• Does Regulatory Technical Assistance Impact the Economic Sustainability of Rural Water Services? Evidence from Peru  (Huamaní, S; Baldeón, H; Castro, E; Charris, C).

• The Dynamic Interdependence Of Global Financial Markets: An Analysis By Dynamic Bayesian Networks (with Bernadelli, L.C; Silva, T.C). (PDF). Submitted.

• Academic Performance and Educational Practice Perceptions in Higher Education (with Silva, T.C and Silva, F.). Submitted.

• Effects of Investor Attention on Brazilian Stock Market Liquidity: An ARDL Approach (with Marschner, P.F). Submitted.

• The relationship between domestic and world prices of agricultural commodities: evidence for soybeans and corn in Brazil (with with Tessmann, M). Submitted.

• Education and Economic Growth in Brazil: New Evidence using the Extended MRW Model (with Nogueira, A; Moreira, T)

• Regulation and efficiency of public water and sewer services in Brazil (with Freitas, W.R). (PDF)

Work in Progress

• Public Sentiment towards Social Protests in Latin America (Diaz, F; Cerda-Hernández J; , Charris, C; Henriquez, P; Parrado, E and Roman, S)  

• Energy Consumption And Economic Growth In Brazil: a Analysis Using a Neoclassic Growth Model (with Gadelha, S.R; Flores, J.L).

• Spatial Determinants of Economic Growth: Evidence for Brazilian Municipalities Based on The MRW Model (1992) (with Souza, A.P.A)

• Design of a Public Policy for Digital Inclusion in Rural Schools  (with Silva, R. I  and Pinheiro, J.F.M).

• Determinants of Agricultural Production in Brazil: An Analysis Based on the Agricultural Census (Barbosa, L; Souza, A).

• Consumption Parameters, Penalty, and Debt Rolling in the Credit Market (Monteiro, M; Docha F)

Accepted for Publication

• Forecasting airline demand in Brazil: performance of models  (with Coelho, F.H; Tessmann M.). International Journal of Economic Perspectives. Forthcoming.

Books

• INTRODUÇÃO À AVALIAÇÃO DE IMPACTO E RETORNO ECONÔMICO DE PROGRAMAS SOCIAIS. 1.Edição. Curitiba: Editora Appris Ltda., 2020. v. 1.

• ENSAIOS SOBRE POLÍTICAS PÚBLICAS. Caixas do Sul, RS: Educs, 2021. (Organizer)

Volume 1 ,    Volume 2,     Volume 3,     Volume 4

Book Chapters

• Evaluation Of The Impact Of Pediatric Cardiovascular Surgery Policy On The Increase Of Procedures Performed By Sus And The Reduction Of Childhood Deaths (with Bernarda, L; Teixeira, J). Evidence-based Health Care - Volume 4. 1st Edition: Editora Científica Digital, 2024, V. , P. 98-118 (PDF).

• Influência do Programa Bolsa Família na frequência escolar: Uma comparação entre áreas urbanas e rurais (with Maciel, D. and Lavoratto, L. ). Cap 6, pag. 75-95, Editora cientifica 2022 (PDF).

• Eficiência e sustentabilidade na Justiça do Trabalho: evidências para o Brasil  (with Susan L), Chapter 6, Editora Caixas do Sul, RS: Educs, 2021. (PDF). Relação entre gastos educacionais e desempenho escolar no Brasil. Capítulo 1, Editora Caixas do Sul, RS: Educs, 2022. (PDF).

Research project

I coordinate the following projects:

• Impact of TECH Learning and ICT Ecosystems in rural schools in the Federal District - EDUCA.CONECTA Learning (2023- Current) 

• School Violence: An Analysis of Emotional Development and Its Relationship with Learning and Interpersonal Interactions of Students in Public Schools of the Federal District - Educa.Emotional (2024- Current)

• Impact of Digital Connectivity on the Educational Performance of Rural Public Schools in the Federal District - EDUCA.CONECTA (2022- 2023)

• Evaluation of the Impact of Affirmative Actions in Public Universities – Call 03/2018.

• Myopia or Optimizing Behavior? A Finance Theory-Based Approach – Call 03/2015.

Undergraduation

Microeconomic I, Mathematics I, Mathematics II, Econometric I,  Game Theory, Time Series Econometrics, Economics for Managers, Statistic, Quantitative methods. 

Quantitative methods, Analysis mathematical II, Macroeconomic II, Statistic I,  Public Policies and Social Projects, Finance I, Time Series Econometrics, Macroeconometric

• Referee for the Brazilian Journal of Business Economics

• Referee for the Brazilian Review of Finance

• Referee for the Brazilian Review of Economics (RBE)

• Referee for the Brazilian Review of Econometrics (RBE)

• Member of the Econometric Society

• Member of the Brazilian Econometric Society (SBE)