Modelos intertemporais de determinação da conta corrente: dois estudos sobre o balanço de pagamentos do Brasil

AUTOR(ES)
DATA DE PUBLICAÇÃO

2008

RESUMO

The adequacy to Brazilian data of two dynamic general equilibrium models for open economy was partially tested. The first one which gives rise to an equation of co- integration and represents the demand for imports was tested and the income and price elasticity were estimated. By symmetry, the same equation was employed for the main Brazilian trade partners among the industrialized countries and the price and income elasticities of demand for export were estimated. This set of co integration equations and their respective elasticity are presented as an alternative to the imperfect substitution models to estimate the Brazilian foreign trade. The second model built a structural equation for the current account as a function of local productivity shocks. This model was modified to include the relative prices of non-tradable to tradable goods in the current account equation. The new equation was estimated and the results revealed that the Brazilian current account is sensitive to the local productivity shocks and to the relative prices shocks.

ASSUNTO(S)

preços, elasticidade economia produtividade comércio internacional

ACESSO AO ARTIGO

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