José Fajardo IBMEC Business School   AV. PRESIDENTE WILSON 118 OFFICE 1108 RIO DE JANEIRO, RJ 20030020 BRAZIL   pepe@ibmecrj.br   http://professores.ibmecrj.br/pepe           JEL Areas: D5 : General Equilibrium and Disequilibrium: General G1 : General Financial Markets: General (includes Measurement and Data)