On October 21 and 22, Fundação Getulio Vargas’ Brazilian School of Economics and Finance (FGV EPGE) held an International Seminar to celebrate its 60^th anniversary. The event featured talks by graduate program alumni who have had notable academic careers and done cutting-edge research. There were also debates on subjects such as “Brazilian Growth Challenges”, “ESG and Infrastructure” and “Fiscal Policy Challenges in Brazil.”

The seminar also featured international guests, including the 2014 Economics Nobel Prize winner, Professor Jean Tirole; Professor John Cochrane of the Hoover Institution at Stanford University; and Professor Mathias Dewatripont of the Free University of Brussels. Other participants included Sérgio Werlang (assistant to the presidents of FGV and FGV EPGE), Roberto Castello Branco (Vale), Joaquim Levy (Banco Safra), Ana Carla Abraão (Oliver Wyman Brasil), Joísa Campanher Dutra (FGV CERI and FGV EPGE), Maria Silvia Bastos (board member of Vallourec Global, Iguá Saneamento and Grupo Cataratas); René Garcia Jr. (Paraná State Finance Secretariat), Bruno Funchal (Economy Ministry) and Cristiane Alckmin (Goiás State Finance Secretariat).

FGV EPGE’s dean, Rubens Penha Cysne, highlighted the school’s importance over the last 60 years. According to him, the school’s objective is to look to the future and reaffirm values and best practices in Brazil and worldwide, involving professors, researchers and students. He also commented on new challenges facing FGV EPGE in developing new areas for climate studies, given this topic’s relevance to the planet. “The meaning of tribute is to look at and honor those who have built FGV EPGE’s trajectory of excellence. The school’s success is the result of multiple generations,” he said.

International guests

Jean Tirole (Toulouse School of Economics), who is an Economics Nobel Prize winner, said he was flattered by the invitation, as FGV is recognized not just in Brazil but also internationally, due to its values and track record. He gave a presentation on "Ethics and Markets". He started off by discussing the meaning of morals and ended by saying, “When does competitive pressure affect moral behavior? The most intense competition stimulates moral behavior.”

John Cochrane (Hoover Institution, Stanford University), an economist with a graduate degree in financial economics and macroeconomics, spoke about theories involving central banks in the last 15 years, in his talk, titled “Where Are Central Banks Going?” In his research, Cochrane has called into question the theory used by central banks that raising interest rates inevitably leads to lower inflation. According to his analysis, the opposite thing happens and there is a long-term relationship between high interest rates and high inflation. Cochrane’s work has documented some empirical patterns and offered potential explanations in this area.

Alumni

FGV EPGE alumni also had an opportunity at the event to talk about their research. Eduardo Azevedo (The Wharton School, University of Pennsylvania) addressed “Economics for Designing Markets.” According to him, FGV EPGE was very important for its academic career and there are ever-more opportunities to make a practical impact in the field of economics as different areas such as theory, market design and econometrics converge.

Flávio Cunha (Rice University) presented his research on “Parents’ Beliefs: Mediation and Theories.” He said, “My research has become less and less methodological and more applied to public policy innovation. I have been looking at parenting problems and how this theory could help form new public policies. What is our role as social scientists in early childhood development?”

Daniel Gottlieb (London School of Economics) gave a talk on “Behavioral Economics and Industrial Organization,” in which he sought to combine behavioral economics, an area of economics that incorporates elements of psychology, with industrial organization, which focuses on studying interactions between firms and consumers.

Future challenges

According to Professor Carlos Ivan Simonsen, a former dean of FGV EPGE and the president of FGV, the institution’s objective is to promote Brazil’s socioeconomic development. In his view, the present moment involves change and there are opportunities for the country and FGV. According to him, the school has a unique opportunity to contribute even more to Brazil’s development as it faces major new futures.

The event, organized by professors Humberto Moreira and Lucas Maestri, also featured other FGV EPGE professors, including Aloisio Araujo, Carlos Eugênio da Costa, Cezar Santos, Felipe Iachan, Leandro Gorno, Luis Braido, Paulo Klinger Monteiro and Renato Fragelli.

For more information about FGV EPGE’s 60^th anniversary celebrations, click here.