文章基本信息

标题：Monetary Policy and Regional Output in Brazil
本地全文：下载
作者：Rafael Rockenbach da Silva Guimaraes ; Sérgio Marley Modesto Monteiro
期刊名称：Revista Brasileira de Economia
印刷版ISSN：0034-7140
出版年度：2014
卷号：68
期号：1
页码：73-101
语种：English
出版社：Escola de Pós-Graduação em Economia da FGV
摘要：This work presents an analysis of whether the effects of the Brazilian monetary policy on regional outputs are symmetric. The strategy developed combines the techniques of principal component analysis (PCA ) to decompose the variables that measure regional economic activity into common and region- specific components and vector autoregressions ( VAR) to observe the behavior of these variables in response to monetary policy shocks . The common component responds to monetary policy as expected. Additionally, the idiosyncratic components of the regions showed no impact of monetary policy. Once monetary policy affects the common component of the regional economic activity and does not impact its idiosyncratic components, it can be considered symmetrical.
关键词：Monetary policy;Economic development;Regional economy