Since 2014
Investment-Specific Technological Change and the Brazilian Macroeconomy
Brazilian Review of Econometrics
View Archive Info| Field | Value | |
| Title |
Investment-Specific Technological Change and the Brazilian Macroeconomy
|
|
| Creator |
Teles, Vladimir K.; BRE
Costa Junior, Celso Jose Rosa, Rafael Mouallem |
|
| Subject |
—
— |
|
| Description |
This study discusses the importance of investment-specific technological change for the brazilian macroeconomy. We document evidence that a model that takes this specific type of technical progress into account is better suited to explain the Brazilian economy over the long term. We then present a DSGE [Dynamic Stochastic General Equilibrium] model with two sectors that incorporates technical progress in the investment goods sector and estimate the model for Brazil. The results demonstrate that productivity shocks in the investment goods sector are more volatile and persistent than in the final goods sector and that the output gap has a greater variance in the two-sector model. In addition, these results recommend a more rigorous monetary policy prescription to improve the economy’s well-being.
|
|
| Publisher |
Sociedade Brasileira de Econometria
|
|
| Contributor |
—
|
|
| Date |
2015-03-03
|
|
| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
|
| Format |
application/pdf
|
|
| Identifier |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/57675
10.12660/bre.v35n22015.57675 |
|
| Source |
Brazilian Review of Econometrics; Vol 35, No 2 (2015): Special Volume SAMBA; 233-264
Brazilian Review of Econometrics; Vol 35, No 2 (2015): Special Volume SAMBA; 233-264 1980-2447 |
|
| Language |
eng
|
|
| Relation |
http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/57675/56187
|
|
| Rights |
Copyright (c) 2015 Brazilian Review of Econometrics
|
|