| dc.creator | Silveira, Marcos Antonio | |
| dc.date | 2008-11-18 | |
| dc.date.accessioned | 2023-08-31T21:06:35Z | |
| dc.date.available | 2023-08-31T21:06:35Z | |
| dc.identifier | https://periodicos.fgv.br/rbe/article/view/1000 | |
| dc.identifier.uri | https://repositorioslatinoamericanos.uchile.cl/handle/2250/8559405 | |
| dc.description | New Keynesian dynamic stochastic general equilibrium (DSGE) models have been developed for monetary policy analysis in open economies. For this purpose, the basic model must be enriched with the sources of nominal and real rigidities which are capable of explaining the observed output and inflation persistence. Under this perspective, we use the Bayesian approach to estimate and compare alternative model specifications for the Brazilian economy with respect to two endogenous persistence mechanisms widely supported by the international empirical literature: habit formation and price indexation. Using data for the inflation target period, we conclude for the relevance of both mechanisms, although the evidence is unexpectly less robust for price indexation. Furthermore, impulse-response functions are built to describe the dynamic effects of domestic and foreign real and monetary shocks. | en-US |
| dc.format | application/pdf | |
| dc.format | application/pdf | |
| dc.language | por | |
| dc.language | eng | |
| dc.publisher | EGV EPGE | pt-BR |
| dc.relation | https://periodicos.fgv.br/rbe/article/view/1000/707 | |
| dc.relation | https://periodicos.fgv.br/rbe/article/view/1000/708 | |
| dc.source | Revista Brasileira de Economia; Vol. 62 No. 3 (2008); 333-357 | en-US |
| dc.source | Revista Brasileira de Economia; v. 62 n. 3 (2008); 333-357 | pt-BR |
| dc.source | 1806-9134 | |
| dc.source | 0034-7140 | |
| dc.title | Using a Bayesian Approach to Estimate and Compare New Keynesian DSGE Models for the Brazilian Economy: the Role for Endogenous Persistence | en-US |
| dc.type | info:eu-repo/semantics/article | |
| dc.type | info:eu-repo/semantics/publishedVersion | |
| dc.type | Articles | en-US |
| dc.type | Artigos | pt-BR |
