A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011

Detalhes bibliográficos
Autor(a) principal: Pimentel, Edgard Almeida
Data de Publicação: 2013
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/58671
Resumo: This paper implements a wavelets-based analysis of the Phillips curve hypothesis — as formulated by Friedman and Phelps — for the Brazilian economy, concerning the last thirty years. We provide an introductory discussion on Phillips curve's main arguments and an exploratory data analysis for the variables under consideration: prices, unemployment and real wages. In the sequel, we estimate variances and correlation structures between these aggregates through wavelets. Our findings reject the Phillips curve hypothesis for the Brazilian economy in the short run while suggest that it does hold in the long run. Finally, the correlation structure obtained in the paper captures particular aspects of Brazilian economic policy within the period.
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spelling A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011 Curva de PhillipsEconomia BrasileiraOndaletasPhillips curveBrazilian economyWavelets This paper implements a wavelets-based analysis of the Phillips curve hypothesis — as formulated by Friedman and Phelps — for the Brazilian economy, concerning the last thirty years. We provide an introductory discussion on Phillips curve's main arguments and an exploratory data analysis for the variables under consideration: prices, unemployment and real wages. In the sequel, we estimate variances and correlation structures between these aggregates through wavelets. Our findings reject the Phillips curve hypothesis for the Brazilian economy in the short run while suggest that it does hold in the long run. Finally, the correlation structure obtained in the paper captures particular aspects of Brazilian economic policy within the period. Este artigo desenvolve uma análise da hipótese da curva de Phillips — de acordo com a formulação de Phelps-Friedman — para a economia brasileira dos últimos 30 anos através da metodologia de ondaletas. Uma introdução às ideias fundamentais do argumento de Phillips é seguida por uma breve exposição dos principais desenvolvimentos teóricos no tema e uma discussão acerca do recente panorama da pesquisa no Brasil. Em seguida, uma análise exploratória das variáveis em questão é empreendida. Por fim, são apresentadas estruturas de correlação e variâncias estimadas através da metodologia de ondatelas, desagregando assim efeitos de curto e longo prazo. Nossos resultados rejeitam a hipótese da curva de Phillips para a economia brasileira no curto prazo enquanto sugere a sua validade no longo prazo. Ainda discutem-se aspectos da pol+itica econômica nacional evidenciados pela metodologia de análise empregada. Universidade de São Paulo, FEA-RP/USP2013-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/5867110.1590/S1413-80502013000100005Economia Aplicada; Vol. 17 No. 1 (2013); 90-114 Economia Aplicada; Vol. 17 Núm. 1 (2013); 90-114 Economia Aplicada; v. 17 n. 1 (2013); 90-114 1980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPenghttps://www.revistas.usp.br/ecoa/article/view/58671/61762Copyright (c) 2015 Economia Aplicadainfo:eu-repo/semantics/openAccessPimentel, Edgard Almeida2016-02-03T16:59:26Zoai:revistas.usp.br:article/58671Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-09-13T12:17:00.485229Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
title A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
spellingShingle A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
Pimentel, Edgard Almeida
Curva de Phillips
Economia Brasileira
Ondaletas
Phillips curve
Brazilian economy
Wavelets
title_short A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
title_full A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
title_fullStr A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
title_full_unstemmed A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
title_sort A wavelets-based analysis of the phillips curve hypothesis for the Brazilian economy, 1980-2011
author Pimentel, Edgard Almeida
author_facet Pimentel, Edgard Almeida
author_role author
dc.contributor.author.fl_str_mv Pimentel, Edgard Almeida
dc.subject.por.fl_str_mv Curva de Phillips
Economia Brasileira
Ondaletas
Phillips curve
Brazilian economy
Wavelets
topic Curva de Phillips
Economia Brasileira
Ondaletas
Phillips curve
Brazilian economy
Wavelets
description This paper implements a wavelets-based analysis of the Phillips curve hypothesis — as formulated by Friedman and Phelps — for the Brazilian economy, concerning the last thirty years. We provide an introductory discussion on Phillips curve's main arguments and an exploratory data analysis for the variables under consideration: prices, unemployment and real wages. In the sequel, we estimate variances and correlation structures between these aggregates through wavelets. Our findings reject the Phillips curve hypothesis for the Brazilian economy in the short run while suggest that it does hold in the long run. Finally, the correlation structure obtained in the paper captures particular aspects of Brazilian economic policy within the period.
publishDate 2013
dc.date.none.fl_str_mv 2013-03-01
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/58671
10.1590/S1413-80502013000100005
url https://www.revistas.usp.br/ecoa/article/view/58671
identifier_str_mv 10.1590/S1413-80502013000100005
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/58671/61762
dc.rights.driver.fl_str_mv Copyright (c) 2015 Economia Aplicada
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2015 Economia Aplicada
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. 17 No. 1 (2013); 90-114
Economia Aplicada; Vol. 17 Núm. 1 (2013); 90-114
Economia Aplicada; v. 17 n. 1 (2013); 90-114
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_ 1800221695016960000

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