Antonio F. Galvao

Michigan State University

Professor of Economics

486 W. Circle Drive 110 Marshall-Adams Hall

East Lansing, MI 48824

United States

  • Michigan State University

SCHOLARLY PAPERS

32

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95

Scholarly Papers (32)

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1.

Dynamic Quantile Models of Rational Behavior

Number of pages: 56 Posted: 15 Mar 2017 Last Revised: 20 Nov 2019
Luciano I. de Castro and Antonio F. Galvao
University of Iowa - Henry B. Tippie College of Business - Department of Economics and Michigan State University
Downloads 606 (95,940)
Citation 26

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Quantile Utility, Dynamic Programming, Quantile Regression, Intertemporal Consumption

2.

GMM Quantile Regression

Journal of Econometrics, Forthcoming
Number of pages: 88 Posted: 13 Aug 2019 Last Revised: 27 Nov 2020
Sergio Firpo, Antonio F. Galvao, Cristine Campos de Xavier Pinto, Alexandre Poirier and Graciela Sanroman
Insper, Michigan State University, University of California, Berkeley - Department of Economics, Georgetown University - Department of Economics and dECON-UDELAR
Downloads 574 (102,834)

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Quantile Regression, Generalized Method of Moments

3.

Smoothed Quantile Regression for Panel Data

Number of pages: 63 Posted: 15 May 2015 Last Revised: 17 May 2015
Antonio F. Galvao and Kengo Kato
Michigan State University and University of Tokyo - Graduate School of Economics
Downloads 545 (109,692)
Citation 10

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4.

Portfolio Selection in Quantile Decision Models

Number of pages: 62 Posted: 13 Dec 2019 Last Revised: 06 Aug 2020
Luciano I. de Castro, Antonio F. Galvao, Gabriel Montes-Rojas and Jose Olmo
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University, City University of London and Universidad de Zaragoza
Downloads 393 (161,778)
Citation 6

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Optimal asset allocation, Expected Utility, Quantile Utility, Portfolio Theory, Risk Attitude

5.

Testing Public Debt Sustainability Using a Present-Value Model

Number of pages: 43 Posted: 26 Aug 2011 Last Revised: 11 Jun 2015
Antonio F. Galvao, Fabio Augusto Reis Gomes and N. Kundan Kishor
Michigan State University, Insper Institute of Education and Research and University of Wisconsin - Milwaukee
Downloads 372 (172,000)
Citation 1

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6.

Quantile Regression Random Effects

Number of pages: 51 Posted: 14 Mar 2016 Last Revised: 24 Jan 2017
Antonio F. Galvao and Alexandre Poirier
Michigan State University and Georgetown University - Department of Economics
Downloads 308 (211,207)
Citation 2

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Quantile Regression, Panel Data, Random Effects, Hypothesis Testing

7.

Dynamic economics with quantile preferences

Number of pages: 78 Posted: 13 May 2022 Last Revised: 10 Aug 2024
Luciano I. de Castro, Antonio F. Galvao and Daniel Nunes
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University and Instituto Nacional de Matemática Pura e Aplicada (IMPA)
Downloads 296 (220,303)

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Quantile preferences, dynamic programming, recursive model, intertemporal consumption, job search with unemployment JEL: C61, D1, E2

8.

Static and Dynamic Quantile Preferences

Number of pages: 42 Posted: 18 Sep 2018 Last Revised: 17 Sep 2022
Luciano I. de Castro and Antonio F. Galvao
University of Iowa - Henry B. Tippie College of Business - Department of Economics and Michigan State University
Downloads 238 (274,978)
Citation 17

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Quantile Utility, Recursive Utility, Ordinality, Axioms

9.

A Dynamic Quantile Model for Distinguishing Intertemporal Substitution from Risk Aversion

Number of pages: 49 Posted: 11 Nov 2020 Last Revised: 09 May 2024
Luciano I. de Castro, Lance D. Cundy, Antonio F. Galvao and Rafael Westenberger
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Federal Reserve Banks - Federal Reserve Bank of Minneapolis, Michigan State University and German Aerospace Center (DLR)
Downloads 233 (280,797)
Citation 1

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Consumption, quantile preferences, elasticity of intertemporal substitution, risk attitude

10.

Quantile Regression with Generated Regressors

Number of pages: 51 Posted: 21 Sep 2017 Last Revised: 24 Feb 2021
Liqiong Chen, Antonio F. Galvao and Suyong Song
University of Iowa, Michigan State University and University of Iowa
Downloads 221 (295,450)
Citation 3

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Quantile Regression, Generated Regressor, Heterogeneity, Engel Curves

11.

HAC Covariance Matrix Estimation in Quantile Regression

Number of pages: 83 Posted: 29 Oct 2021 Last Revised: 13 Jun 2022
Antonio F. Galvao and Jungmo Yoon
Michigan State University and Hanyang University
Downloads 220 (296,772)

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Robust standard error, quantile regression, time-series data, heteroskedasticity and autocorrelation consistent covariance matrix estimation

12.

Robust Inference for Panel Quantile Regression Models with Individual Fixed Effects and Serial Correlation

Number of pages: 61 Posted: 15 Apr 2017
Jungmo Yoon and Antonio F. Galvao
Hanyang University and Michigan State University
Downloads 216 (302,071)
Citation 2

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Quantile Regression, Panel Data, Serial Correlation, Cluster Robust Standard Errors

13.

Joint Elicitation of Elasticity of Intertemporal Substitution, Risk and Time Preferences

Downloads 213 (306,140)

Joint Elicitation of Elasticity of Intertemporal Substitution, Risk and Time Preferences

Number of pages: 38 Posted: 11 Nov 2020 Last Revised: 14 Sep 2023
Luciano I. de Castro, Antonio F. Galvao, Gabriel Montes-Rojas and Jose Olmo
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University, City University of London and Universidad de Zaragoza
Downloads 162 (391,965)

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Quantile Preference, Risk Attitude, Elasticity of Intertemporal Substitution, Discount Factor, Experiment

Elicitation of Elasticity of Intertemporal Substitution, Risk and Time Preferences

Number of pages: 38 Posted: 17 Nov 2022
Luciano I. de Castro, Antonio F. Galvao, Gabriel Montes‐Rojas and Jose Olmo
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University, University of Buenos Aires (UBA) and Universidad de Zaragoza
Downloads 51 (848,534)

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Quantile Preferences, Risk Attitude, Elasticity of Intertemporal Substitution, Discount Factor, Experiment

14.

Do People Maximize Quantiles?

Number of pages: 48 Posted: 09 Jun 2020
Luciano I. de Castro, Antonio F. Galvao, Charles Noussair and Liang Qiao
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University, University of Arizona and University of Arizona
Downloads 200 (324,676)
Citation 9

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Quantile Preference, Risk Attitude, Experiment

15.

A New Characterization of the Normal Distribution and Test for Normality

Number of pages: 48 Posted: 03 Apr 2015
Anil Bera, Antonio F. Galvao, Liang Wang and Zhijie Xiao
University of Illinois, Michigan State University, University of Wisconsin - Milwaukee and Boston College - Department of Finance and Department of Economics
Downloads 186 (347,287)
Citation 3

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Asymptotic covariance, characterization of distribution, normality, quantile process, mean, testing

16.

Tests of Asset Pricing with Time-Varying Factor Loads

Number of pages: 36 Posted: 20 Mar 2016 Last Revised: 04 Nov 2017
Antonio F. Galvao, Gabriel Montes-Rojas and Jose Olmo
Michigan State University, City University of London and Universidad de Zaragoza
Downloads 173 (370,389)

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Asset pricing theories, realized measures, slope homogeneity tests, stochastic discount factor, two-pass regressions.

17.

Who Benefits from Reducing the Cost of Formality? Quantile Regression Discontinuity Analysis

Number of pages: 41 Posted: 23 Oct 2010 Last Revised: 04 Jul 2011
Antonio F. Galvao, Gabriel Montes-Rojas and Tommaso Gabrieli
Michigan State University, City University of London and University of Reading - Henley Business School
Downloads 173 (370,389)
Citation 2

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18.

Quantile Continuous Treatment Effects

Number of pages: 57 Posted: 25 Sep 2017
Javier Alejo, Antonio F. Galvao and Gabriel Montes-Rojas
Universidad Nacional de Mar del Plata, Michigan State University and City University of London
Downloads 156 (405,092)

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Continuous treatment; quantile treatment effects; quantile regression

19.

Conditional Quantiles: An Operator-Theoretical Approach

Number of pages: 74 Posted: 04 Oct 2021 Last Revised: 01 Aug 2022
Luciano I. de Castro, Bruno Costa, Antonio F. Galvao and Jorge Zubelli
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Instituto Nacional de Matemática Pura e Aplicada (IMPA), Michigan State University and Khalifa University
Downloads 144 (432,503)
Citation 2

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Conditional Quantiles, continuity, differentiability, Fatou’s lemma, Leibniz’s rule, law of iterated quantiles

20.

Quantile Approach to Intertemporal Consumption with Multiple Assets *

Number of pages: 54 Posted: 26 Oct 2023 Last Revised: 22 Jul 2024
Luciano I. de Castro, Antonio F. Galvao and Hirofumi Ota
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University and Rutgers, The State University of New Jersey
Downloads 142 (437,431)

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Quantile preferences, recursive model, risk, intertemporal substitution, two-step semiparametric estimator. JEL: C22, C61, E21

21.

A Quantile Model of Firm Investment

Downloads 140 (442,420)

A Quantile Model of Firm Investment

Number of pages: 52 Posted: 13 Feb 2024 Last Revised: 15 May 2024
Heitor Almeida, Murillo Campello, Luciano I. de Castro and Antonio F. Galvao
University of Illinois at Urbana-Champaign, University of Florida - Warrington College of Business Administration, University of Iowa - Henry B. Tippie College of Business - Department of Economics and Michigan State University
Downloads 125 (486,355)

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Investment, quantile preferences, risk attitude, Tobin's q, recursive model

A Quantile Model of Firm Investment

NBER Working Paper No. w32498
Number of pages: 53 Posted: 28 May 2024
Heitor Almeida, Murillo Campello, Luciano I. de Castro and Antonio F. Galvao
University of Illinois at Urbana-Champaign, University of Florida - Warrington College of Business Administration, University of Iowa - Henry B. Tippie College of Business - Department of Economics and Michigan State University
Downloads 15 (1,251,000)
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22.

Convex and Conditionally Law-Invariant Risk Measures

Number of pages: 81 Posted: 18 Jan 2024
Luciano I. de Castro, Bruno Costa, Antonio F. Galvao and Jorge Zubelli
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Instituto Nacional de Matemática Pura e Aplicada (IMPA), Michigan State University and Khalifa University of Science and Technology
Downloads 131 (466,749)

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Conditional Risk Measures, Convex Risk Measures, Coherent Risk Measures, Conditional Quantiles, Conditional Law-Invariance, Random Concave Distortions, Transition Capacities

23.

Estimation and Inference for Actual and Counterfactual Growth Incidence Curves

Downloads 66 (475,361)

Estimation and Inference for Actual and Counterfactual Growth Incidence Curves

IZA Discussion Paper No. 10473
Number of pages: 61 Posted: 22 Jan 2017
Francisco H. G. Ferreira, Sergio Firpo and Antonio F. Galvao
World Bank - Development Research Group (DECRG), Insper and Michigan State University
Downloads 66 (743,138)

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growth incidence curves, potential outcomes, inference, quantile process

24.

Experiments on Portfolio Selection: A Comparison between Quantile Preferences and Expected Utility Decision Models

Number of pages: 77 Posted: 11 May 2021
Luciano I. de Castro, Antonio F. Galvao, Jeong Yeol Kim, Gabriel Montes-Rojas and Jose Olmo
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University, KDI School of Public Policy and Management, City University of London and Universidad de Zaragoza
Downloads 112 (526,637)
Citation 2

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25.

Estimation and Inference for Linear Panel Data Models under Misspecification when Both N and T are Large

Number of pages: 53 Posted: 19 Feb 2013 Last Revised: 10 Mar 2014
Antonio F. Galvao and Kengo Kato
Michigan State University and University of Tokyo - Graduate School of Economics
Downloads 107 (544,816)
Citation 4

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incidental parameters problem, cross section bootstrap, fixed effects estimator, panel data, misspecification

26.

Numerical Solution of Dynamic Quantile Models

Number of pages: 38 Posted: 26 Sep 2022
Luciano I. de Castro, Antonio F. Galvao and Andre Muchon
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University and Instituto Nacional de Matemática Pura e Aplicada (IMPA)
Downloads 93 (599,777)

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Quantile preferences, dynamic programming, value function iterations

27.

A DSGE Model of Downside Risk

Number of pages: 50 Posted: 04 Oct 2024
Luciano I. de Castro, Antonio F. Galvao and David Hong
University of Iowa - Henry B. Tippie College of Business - Department of Economics, Michigan State University and University of Edinburgh
Downloads 64 (742,181)

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technology shocks, business cycle, downside risk, recursive quantile preferences, impulse response function

28.

Loss Aversion and the Welfare Ranking of Policy Interventions

IZA Discussion Paper No. 13176
Number of pages: 67 Posted: 27 Apr 2020 Last Revised: 18 Nov 2021
Sergio Firpo, Antonio F. Galvao, Martyna Kobus, Thomas Parker and Pedro Rosa-Dias
Insper, Michigan State University, Polish Academy of Sciences (PAS), University of Waterloo - Department of Economics and Imperial College London
Downloads 62 (760,740)

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stochastic ordering, policy evaluation, loss aversion, welfare, directional differentiability

29.

Cluster Robust Covariance Matrix Estimation in Panel Quantile Regression with Individual Fixed Effects

Number of pages: 70 Posted: 07 Sep 2019
Jungmo Yoon and Antonio F. Galvao
Hanyang University and Michigan State University
Downloads 50 (838,186)
Citation 5

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cluster robust standard errors, quantile regression, panel data, heteroskedasticity and autocorrelation consistent covariance matrix estimation

30.

Supplemental Appendix: Cluster Robust Covariance Matrix Estimation in Panel Quantile Regression with Individual Fixed Effects

Number of pages: 38 Posted: 10 Sep 2019
Jungmo Yoon and Antonio F. Galvao
Hanyang University and Michigan State University
Downloads 34 (983,312)

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31.

Doubly-Robust Quantile Treatment Effects with Staggered Interventions 

Number of pages: 46 Posted: 25 Apr 2025
Benjamin Miller and Antonio F. Galvao
Securities and Exchange Commission and Michigan State University
Downloads 23 (1,109,527)

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Quantile treatment effects, staggered interventions, semiparametric estimation and inference. JEL Classification: C14, panel data

32.

Games and Economic Behavior

Number of pages: 19 Posted: 13 Dec 2024
Charles Noussair, Luciano I. de Castro and Antonio F. Galvao
University of Arizona, University of Iowa - Henry B. Tippie College of Business - Department of Economics and Michigan State University
Downloads 17 (1,184,348)

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