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Bienes comerciables y no comerciables en la economÌa espanola: Un enfoque de ciclo real

  • JosÈ Mô MartÌn Moreno
  • Jes˙s Ruiz

En este trabajo se analizan las consecuencias de incorporar bienes comerciables, no comerciables y de inversiÛn en un modelo de ciclo real para una economÌa abierta y pequena aplicado a la economÌa espanola. La simulaciones estoc·sticas del modelo bajo el supuesto de expectativas racionales y su comparaciÛn con los datos de la economÌa espanola muestran que el modelo teÛrico explica algunos hechos estilizados de dicha economÌa como son: i) el puzzle Dolado et al. es decir, la alta volatilidad del consumo privado para nuestra economÌa, y ii) las caracterÌsticas cÌclicas del fenÛmeno conocido como iinflaciÛn dualÓ. Adem·s el modelo teÛrico explica adecuadamente gran parte de las otras propiedades cÌclicas de las variables macroeconÛmicas espanolas 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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Handle: RePEc:fda:fdaeee:206
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