arXiv subjects

João Garcia

Publications and source records attributed to João Garcia.

2 recordsLinked to original sources

arXiv2026

Religious Mayors, School Appointments, and Teenage Pregnancy

When religious movements win executive office, they can use bureaucratic levers to reshape public services along doctrinal lines. Using a regression discontinuity design on close mayoral elections in Brazil, we show that girls exposed to Pentecostal-party mayors during middle school experience birth rates 40% higher, elevated STD rates, reduced HPV vaccination, and higher dropout rates; older cohorts already past school show no effects. The mechanism operates through personnel: these mayors replace school principals and reduce sexual education in municipal schools by 12.5 percentage points, with no changes in state schools outside their control. No effects emerge from other right-wing parties.

econ.GN↗

arXiv2013

CoCo Bonds Valuation with Equity- and Credit-Calibrated First Passage Structural Models

After the beginning of the credit and liquidity crisis, financial institutions have been considering creating a convertible-bond type contract focusing on Capital. Under the terms of this contract, a bond is converted into equity if the authorities deem the institution to be under-capitalized. This paper discusses this Contingent Capital (or Coco) bond instrument and presents a pricing methodology based on firm value models. The model is calibrated to readily available market data. A stress test of model parameters is illustrated to account for potential model risk. Finally, a brief overview of how the instrument performs is presented.

q-fin.PR↗