Ciclos reais brasileiros em dois setores
DOI:
https://doi.org/10.1590/S0101-41612004000100002Keywords:
oscillations, real exchange rate, trade balanceAbstract
We construct a two-sector dynamic general equilibrium model to investigate the behavior of the Brazilian business cycles. When investments from each sector are aggregated according to a Cobb-Douglas for capital formation, the model is consistent with the cyclical volatilities of national income components as well as with the countercyclical character of net exports and real exchange rates. If the elasticity of substitution between consumptions of tradeables and non-tradeables is low, the model can also reproduce the observed real exchange rates volatilities.Downloads
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Copyright (c) 2004 Fabio Kanczuk
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