Investment-specific technological change and the Brazilian macroeconomy
Teles, Vladimir Kuhl; Costa Junior, Celso José; Rosa, Rafael Mouallem
O documento é disponibilizado pela fonte de origem, que mantém a versão integral e as condições de uso.
Resumo
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.
Ficha do documento
- Tipo
- Artigo científico
- Ano
- 2015
- Instituição
- Sociedade Brasileira de Econometria
- Fonte
- Repositório da FGV
- Idioma
- Inglês
- Acesso
- Acesso aberto
- Identificador
- oai:repositorio.fgv.br:10438/26219
- Temas
- Economia
Conteúdos relacionados
- EstudoInvestment-specific technological change and the Brazilian macroeconomyFundação Getulio Vargas · 2014
- DissertaçãoOs impactos da política monetária na inflação implícita e nas variáveis macroeconômicas no BrasilFundação Getulio Vargas · 2024
- TeseEconomic policies in BrazilFundação Getulio Vargas · 2022
- TeseEssays on monetary and fiscal policies in a small open economyFundação Getulio Vargas · 2022
