Decomposição dos Ciclos do PIB Brasileiro
The paper applies a structural approach to isolate the “product gap”. The application of a methodology for accounting of cycles allows target fluctuations of Brazilian industrial production originated in productivity shocks and shocks that distort the choices of families between work and consumpti...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | Portuguese |
| Published: |
Universidade Presbiteriana Mackenzie
2009-03-01
|
| Series: | Revista de Economia Mackenzie |
| Subjects: | |
| Online Access: | http://editorarevistas.mackenzie.br/index.php/rem/article/view/506 |
| _version_ | 1818537718172352512 |
|---|---|
| author | Celso de Campos Toledo Neto Eraldo Genin Fiori |
| author_facet | Celso de Campos Toledo Neto Eraldo Genin Fiori |
| author_sort | Celso de Campos Toledo Neto |
| collection | DOAJ |
| description | The paper applies a structural approach to isolate the “product gap”. The
application of a methodology for accounting of cycles allows target fluctuations of Brazilian industrial production originated in productivity shocks and
shocks that distort the choices of families between work and consumption.
This structural decay to set a measure of potential output more tuned to the
economic theory. It was found that most of the cyclical fluctuations of the
industrial product is due to shocks in productivity. If this is true, “the product
gap” measured through filters contains, actually, changes in product potential.
Consequently, monetary policy could be calibrated so perverse. The methodological change significantly affect the relevant results of the inflation target relevant model. In particular, the effect of real interest on the product gap measured this way is significantly less than that measured in conventional form. |
| first_indexed | 2024-12-11T18:54:21Z |
| format | Article |
| id | doaj.art-be7e8be54fc24d0282b851a0d1d9d835 |
| institution | Directory Open Access Journal |
| issn | 1678-5002 1808-2785 |
| language | Portuguese |
| last_indexed | 2024-12-11T18:54:21Z |
| publishDate | 2009-03-01 |
| publisher | Universidade Presbiteriana Mackenzie |
| record_format | Article |
| series | Revista de Economia Mackenzie |
| spelling | doaj.art-be7e8be54fc24d0282b851a0d1d9d8352022-12-22T00:54:12ZporUniversidade Presbiteriana MackenzieRevista de Economia Mackenzie1678-50021808-27852009-03-01714362Decomposição dos Ciclos do PIB BrasileiroCelso de Campos Toledo Neto0Eraldo Genin Fiori1Universidade de São PauloUniversidade Presbiteriana MackenzieThe paper applies a structural approach to isolate the “product gap”. The application of a methodology for accounting of cycles allows target fluctuations of Brazilian industrial production originated in productivity shocks and shocks that distort the choices of families between work and consumption. This structural decay to set a measure of potential output more tuned to the economic theory. It was found that most of the cyclical fluctuations of the industrial product is due to shocks in productivity. If this is true, “the product gap” measured through filters contains, actually, changes in product potential. Consequently, monetary policy could be calibrated so perverse. The methodological change significantly affect the relevant results of the inflation target relevant model. In particular, the effect of real interest on the product gap measured this way is significantly less than that measured in conventional form.http://editorarevistas.mackenzie.br/index.php/rem/article/view/506economic cyclesmonetary policyinflation target |
| spellingShingle | Celso de Campos Toledo Neto Eraldo Genin Fiori Decomposição dos Ciclos do PIB Brasileiro Revista de Economia Mackenzie economic cycles monetary policy inflation target |
| title | Decomposição dos Ciclos do PIB Brasileiro |
| title_full | Decomposição dos Ciclos do PIB Brasileiro |
| title_fullStr | Decomposição dos Ciclos do PIB Brasileiro |
| title_full_unstemmed | Decomposição dos Ciclos do PIB Brasileiro |
| title_short | Decomposição dos Ciclos do PIB Brasileiro |
| title_sort | decomposicao dos ciclos do pib brasileiro |
| topic | economic cycles monetary policy inflation target |
| url | http://editorarevistas.mackenzie.br/index.php/rem/article/view/506 |
| work_keys_str_mv | AT celsodecampostoledoneto decomposicaodosciclosdopibbrasileiro AT eraldogeninfiori decomposicaodosciclosdopibbrasileiro |