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Bienes comerciables y no comerciables en la economía española: Un enfoque de ciclo real

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Author Info
José Mª Martín Moreno
Jesús Ruiz
Abstract

En este trabajo se analizan las consecuencias de incorporar bienes comerciables, no comerciables y de inversión en un modelo de ciclo real para una economía abierta y pequeña aplicado a la economía española. La simulaciones estocásticas del modelo bajo el supuesto de expectativas racionales y su comparación con los datos de la economía española muestran que el modelo teórico explica algunos hechos estilizados de dicha economía como son: i) el puzzle Dolado et al. es decir, la alta volatilidad del consumo privado para nuestra economía, y ii) las características cíclicas del fenómeno conocido como “inflación dual”. Además el modelo teórico explica adecuadamente gran parte de las otras propiedades cíclicas de las variables macroeconómicas españolas tanto a nivel agregado como sectorial.

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Paper provided by FEDEA in its series Studies on the Spanish Economy with number 206.

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This page was last updated on 2009-11-19.

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