Monetary Policy and Regional Output in Brazil

Detalhes bibliográficos
Autor(a) principal: Guimaraes, Rafael Rockenbach da Silva
Data de Publicação: 2014
Outros Autores: Monteiro, Sérgio Marley Modesto
Tipo de documento: Artigo
Idioma: por
Título da fonte: Revista Brasileira de Economia (Online)
Texto Completo: https://periodicos.fgv.br/rbe/article/view/7164
Resumo: 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.
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spelling Monetary Policy and Regional Output in BrazilMonetary policyEconomic developmentRegional economyThis 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.EGV EPGE2014-04-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArticlesArtigosapplication/pdfhttps://periodicos.fgv.br/rbe/article/view/7164Revista Brasileira de Economia; Vol. 68 No. 1 (2014): Jan-Mar; 73-101Revista Brasileira de Economia; v. 68 n. 1 (2014): Jan-Mar; 73-1011806-91340034-7140reponame:Revista Brasileira de Economia (Online)instname:Fundação Getulio Vargas (FGV)instacron:FGVporhttps://periodicos.fgv.br/rbe/article/view/7164/16651Guimaraes, Rafael Rockenbach da SilvaMonteiro, Sérgio Marley Modestoinfo:eu-repo/semantics/openAccess2016-12-16T12:23:48Zoai:ojs.periodicos.fgv.br:article/7164Revistahttps://periodicos.fgv.br/rbe/https://periodicos.fgv.br/rbe/oai||rbe@fgv.br1806-91340034-7140opendoar:2024-03-06T13:03:32.618603Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)true
dc.title.none.fl_str_mv Monetary Policy and Regional Output in Brazil
title Monetary Policy and Regional Output in Brazil
spellingShingle Monetary Policy and Regional Output in Brazil
Guimaraes, Rafael Rockenbach da Silva
Monetary policy
Economic development
Regional economy
title_short Monetary Policy and Regional Output in Brazil
title_full Monetary Policy and Regional Output in Brazil
title_fullStr Monetary Policy and Regional Output in Brazil
title_full_unstemmed Monetary Policy and Regional Output in Brazil
title_sort Monetary Policy and Regional Output in Brazil
author Guimaraes, Rafael Rockenbach da Silva
author_facet Guimaraes, Rafael Rockenbach da Silva
Monteiro, Sérgio Marley Modesto
author_role author
author2 Monteiro, Sérgio Marley Modesto
author2_role author
dc.contributor.author.fl_str_mv Guimaraes, Rafael Rockenbach da Silva
Monteiro, Sérgio Marley Modesto
dc.subject.por.fl_str_mv Monetary policy
Economic development
Regional economy
topic Monetary policy
Economic development
Regional economy
description 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.
publishDate 2014
dc.date.none.fl_str_mv 2014-04-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Articles
Artigos
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://periodicos.fgv.br/rbe/article/view/7164
url https://periodicos.fgv.br/rbe/article/view/7164
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://periodicos.fgv.br/rbe/article/view/7164/16651
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv EGV EPGE
publisher.none.fl_str_mv EGV EPGE
dc.source.none.fl_str_mv Revista Brasileira de Economia; Vol. 68 No. 1 (2014): Jan-Mar; 73-101
Revista Brasileira de Economia; v. 68 n. 1 (2014): Jan-Mar; 73-101
1806-9134
0034-7140
reponame:Revista Brasileira de Economia (Online)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Revista Brasileira de Economia (Online)
collection Revista Brasileira de Economia (Online)
repository.name.fl_str_mv Revista Brasileira de Economia (Online) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv ||rbe@fgv.br
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