Showing 1 - 10 of 161
This study aims to analyse the demand for credit in Brazilian market for vehicles. Based on the Markov Switching model to dealing with regime change, we estimate a demand function using aggregated monthly data from Oct./2000 to Dec./2012. The results showed that the demand for credit was subject...
Persistent link: https://www.econbiz.de/10011372157
attributes: gender, experience and education. To relate the social indicators of employment/inequality to macroeconomic variables … shocks and social indicators. The main results of this work are that the effect of the identified shocks: i) is statistically …) have small but statistically significant effects on indicators relating to workers; iii) have heterogeneous effects by …
Persistent link: https://www.econbiz.de/10011372158
Switching model, we estimate the demand for mortgage using aggregate monthly data from January 2003 to September 2012. The results show that this variable has been subject to cycles of contraction and expansion since 2003. The boom starts at the end of 2005 is marked by the alternation of two...
Persistent link: https://www.econbiz.de/10011372202
This study aims to analyze price discovery in the foreign exchange market in Brazil and indicate which market (spot or futures) adjusts more quickly to the arrival of new information. Using high frequency data from January/2008 to June/2013, we estimate the following price discovery metrics:...
Persistent link: https://www.econbiz.de/10011372252
This paper attempts to extend empirical investigations about the asymmetric effects of monetary shocks in the Brazilian economy. We specify and estimate a nonlinear smooth transition vector autoregressive model including output, price level, exchange rate and a monetary policy indicator (Selic...
Persistent link: https://www.econbiz.de/10010330562
This paper analyzes the dynamic properties of a DSGE model for Brazil, under alternative model parameterizations. First, we carefully review the literature in order to identify admissible ranges for the model's parameters. We then calculate selected impulse response functions (IRF) under various...
Persistent link: https://www.econbiz.de/10010330678
Nailo in the last quarter of 2007 was between 2.5 and 4.4% (3.5% being the most likely value). A value of GDP 1% higher than …
Persistent link: https://www.econbiz.de/10010330689
This paper estimates the primary structural budget balance (eliminating the effects due to cyclical fluctuations in GDP … for the trend GDP, as well as elasticities of the main components of the government budget with respect to GDP and oil … price. To obtain a smoothed series for GDP (and oil price), we used the Hodrick-Prescott filter. To estimate the …
Persistent link: https://www.econbiz.de/10010330704
This paper presents the first results of an ongoing project aimed at building and putting into operation a dynamic stochastic general equilibrium (DSGE) model for Brazil. The model is based on Smets and Wouters (2003) and Christiano ET AL.(2005), to which we add features that are typical of...
Persistent link: https://www.econbiz.de/10010330846
This paper estimates the primary structural balance and the fiscal impulse for the Brazilian public administrations from 1997 to 2010. We performed two adjustments: i) initially, one-off measures (including those resulting from creative accounting) were identified; and, ii) after this correction,...
Persistent link: https://www.econbiz.de/10010330890