TD NEREUS 01-2022
Carlos R. Azzoni and Moisés Vassalo
With a strictly economic view, this study estimates the productivity differential of graduates from three of the best universities in Brazil (USP, Unicamp, and Unesp) compared to professionals trained by other higher education institutions. We performed a cost-benefit analysis comparing the value of the aggregate productivity differential with the expenditures incurred. We compared the productivity levels of over 138,000 graduates of the three universities between 2005 and 2015 with more than 13 million professionals in the labor market in 2018. The results indicate that a person with a degree in these universities had 62% higher productivity levels (gross differential). When we control for the personal characteristics (gender, age) and the quality of employment obtained (sector of activity, tenure, location, and specific occupation), the difference reduces to 24% (net differential). For jobs in the private sector, the net difference is 30%. We concluded that the effects of high-quality teaching alone account for 81.5% of the costs involved in the operation of the three universities.
TD NEREUS 06-2021
Raphael Fernandes and Eduardo Haddad
The debate about government spending multiplier, and the efficacy of fiscal policy in promoting economic growth was revitalized after the global financial crisis of the late 2000s. However, there is no consensus about the determinants of multipliers’ magnitude and nature, both at the national and regional level. The literature quantifying the local government multiplier is still limited, especially for developing economies. In this context, the objective of this paper is to analyze the impacts of Federal Government spending on the regional output and estimate the local multipliers for Brazilian states. Thus, we seek to answer which states would possess the highest multiplier to analyze its regional patterns, and in second instance, whether there is a trade-off between regional equity and national growth. We will achieve this objective through a computable general equilibrium analysis (CGE) for the Brazilian economy, and then compare with Input-Output estimates. In this sense, this paper offers another perspective on the multiplier effect: at first, by calculating for each state its Federal Government Spending Multiplier; secondly, it decomposes the total multiplier in its intraregional effect and the interregional effect. As a preview of results, we found that the multiplier is higher in more impoverished areas and sensitive to trade openness. Also, the IO multiplier is much higher due to the absence of price mechanisms. Furthermore, it suggests there would be no trade-off between mitigating regional disparities and fostering national growth, limited to a short-run closure without considering spending funding or the quality of public expenditures.
TD NEREUS 05-2021
Sandy Dall’erba, André Chagas, William Ridley, Yilan Xu and Lilin Yuan
The difference-in-difference (DID) framework is now a well-accepted method in quasi-experimental research. However, DID does not consider treatment-induced changes to a network linking treated and control units. Our instrumental variable network DID methodology controls first for the endogeneity of the network to the treatment and, second, for the direct and indirect role of the treatment on any network member. Monte Carlo simulations and an estimation of the drought impact on global wheat trade and production demonstrate the performance of our new estimator. Results show that DID disregarding the network and its changes leads to significant underestimates of overall treatment effects.
TD NEREUS 04-2021
Eduarda Miller de Figueiredo, André Luis Squarize Chagas, Daniel de Abreu Pereira Uhr e Júlia Gallego Ziero Uhr
O objetivo do presente estudo é testar a hipótese de que a presença do gênero feminino na composição da diretoria das sociedades empresárias afeta o comportamento ambiental das empresas brasileiras. Utiliza-se dados identificados da Relação Anual de Informações Sociais (RAIS), os quais são cruzados com os dados de autos de infração ambiental do Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais (IBAMA) para o período de 2011 a 2015. A estratégia de identificação baseia-se no método de Poisson e Probit. Os resultados mostram que a presença de mulheres nos cargos diretivos reduz o número de autos de infrações ambientais e a probabilidade de ser lavrados autos de infrações contra as firmas brasileiras por violações à legislação ambiental.
The aim of this study is to test the hypothesis that the presence of the female gender in the composition of the board of directors of business companies affects the environmental behavior of Brazilian companies. Identified data from the Annual List of Social Information (RAIS) are used, which are cross-checked with data from environmental infraction records from the Brazilian Institute of the Environment and Natural Resources (IBAMA) for the period from 2011 to 2015. The identification strategy it is based on the method of Poisson e Probit. The results show that the presence of women in management positions reduces the number of notices of environmental infractions and the likelihood of notices of infractions being drawn up against Brazilian firms for violations of environmental legislation.
TD NEREUS 03-2021
Inácio Fernandes de Araújo, Fernando Salgueiro Perobelli e Weslem Rodrigues Faria
This paper focuses on the role played by the Brazilian economy in global value chains with reference to global and regional contexts. For which we calculate downstream and upstream indicators of global and regional integration and fragmentation of global value chains. We use the full Eora Multiregional Input-Output Table for the period from 1990 to 2015. The main results indicate that Brazilian participation in global value chains increased during this period and became more fragmented internationally, mainly in global terms, but its regional insertion has increased more than its global insertion. Although South America has a small share in value-added trade, Brazil operates as a regional hub, as it is a reference for international trade in this region. In the global context, Brazil plays the role of supplier of intermediate inputs, while in the regional context, Brazil serves as the main production center.