Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model

Detalhes bibliográficos
Autor(a) principal: Nobrega, Wellington Charles Lacerda
Data de Publicação: 2020
Outros Autores: Besarria, Cássio da Nóbrega, de Oliveira, Felipe Araújo
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/151926
Resumo: This paper has the purpose to investigate the relationship between unemployment rate and wage growth for the Brazilian economy from 2000to 2016, by means of a Markov-switching regression model. The empirical approach is based on the New-Keynesian Phillips Curve developed by Galí (2011). The estimation results suggest the existence of two well definedregimes, one characterized by the non-validation of the Phillips Curve, while in the other the trade-off between unemployment and wageinflation is validated, with the economic cycle being a key factor in regime switching.
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spelling Unemployment rate and wage growth in Brazil: evidence from a Markov-switching modeldesempregosaláriosMarkov switchingNAIRUcurva de PhillipsunemploymentwageMarkov switchingNAIRUPhillips curveThis paper has the purpose to investigate the relationship between unemployment rate and wage growth for the Brazilian economy from 2000to 2016, by means of a Markov-switching regression model. The empirical approach is based on the New-Keynesian Phillips Curve developed by Galí (2011). The estimation results suggest the existence of two well definedregimes, one characterized by the non-validation of the Phillips Curve, while in the other the trade-off between unemployment and wageinflation is validated, with the economic cycle being a key factor in regime switching.Este artigo tem o propósito de investigar a relação entre a taxa de desemprego e o crescimento dos salários na economia brasileira entre 2000 e 2016, através de um modelo de regressão com mudança markoviana. A estratégia empírica é baseada na curva de Phillips Novo-Keynesiana desenvolvida por Galí (2011). Os resultados da estimação sugerem a existência de dois regimes bem definidos, um caracterizado pela não validação da curva de Phillips, enquanto no outro o trade-off entre desemprego e inflação nos salários é validado, sendo o ciclo econômico um fator chave na transição entre regimes.Universidade de São Paulo, FEA-RP/USP2020-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/15192610.11606/1980-5330/ea151926Economia Aplicada; Vol. 24 No. 2 (2020); 171-194Economia Aplicada; Vol. 24 Núm. 2 (2020); 171-194Economia Aplicada; v. 24 n. 2 (2020); 171-1941980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPenghttps://www.revistas.usp.br/ecoa/article/view/151926/169677Copyright (c) 2020 Economia Aplicadahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessNobrega, Wellington Charles LacerdaBesarria, Cássio da Nóbregade Oliveira, Felipe Araújo2021-03-04T01:55:59Zoai:revistas.usp.br:article/151926Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-09-13T12:17:13.128123Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
title Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
spellingShingle Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
Nobrega, Wellington Charles Lacerda
desemprego
salários
Markov switching
NAIRU
curva de Phillips
unemployment
wage
Markov switching
NAIRU
Phillips curve
title_short Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
title_full Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
title_fullStr Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
title_full_unstemmed Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
title_sort Unemployment rate and wage growth in Brazil: evidence from a Markov-switching model
author Nobrega, Wellington Charles Lacerda
author_facet Nobrega, Wellington Charles Lacerda
Besarria, Cássio da Nóbrega
de Oliveira, Felipe Araújo
author_role author
author2 Besarria, Cássio da Nóbrega
de Oliveira, Felipe Araújo
author2_role author
author
dc.contributor.author.fl_str_mv Nobrega, Wellington Charles Lacerda
Besarria, Cássio da Nóbrega
de Oliveira, Felipe Araújo
dc.subject.por.fl_str_mv desemprego
salários
Markov switching
NAIRU
curva de Phillips
unemployment
wage
Markov switching
NAIRU
Phillips curve
topic desemprego
salários
Markov switching
NAIRU
curva de Phillips
unemployment
wage
Markov switching
NAIRU
Phillips curve
description This paper has the purpose to investigate the relationship between unemployment rate and wage growth for the Brazilian economy from 2000to 2016, by means of a Markov-switching regression model. The empirical approach is based on the New-Keynesian Phillips Curve developed by Galí (2011). The estimation results suggest the existence of two well definedregimes, one characterized by the non-validation of the Phillips Curve, while in the other the trade-off between unemployment and wageinflation is validated, with the economic cycle being a key factor in regime switching.
publishDate 2020
dc.date.none.fl_str_mv 2020-06-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/151926
10.11606/1980-5330/ea151926
url https://www.revistas.usp.br/ecoa/article/view/151926
identifier_str_mv 10.11606/1980-5330/ea151926
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/151926/169677
dc.rights.driver.fl_str_mv Copyright (c) 2020 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2020 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 24 No. 2 (2020); 171-194
Economia Aplicada; Vol. 24 Núm. 2 (2020); 171-194
Economia Aplicada; v. 24 n. 2 (2020); 171-194
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
_version_ 1800221695954386944

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