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Estudos Econômicos (São Paulo)

Print version ISSN 0101-4161On-line version ISSN 1980-5357


TELES, Vladimir Kühl  and  MIRANDA, Mauro Costa. Política monetária e ciclos regionais no Brasil: uma investigação das condições para uma área monetária ótima. Estud. Econ. [online]. 2006, vol.36, n.2, pp.263-291. ISSN 0101-4161.

The objective of this paper is to investigate the influence of the monetary policy and other shocks on the gross domestic product of each one of the Brazilian regions. The methodology is a combination of non-observed components and auto-regressive techniques (VAR). Common and specific shocks and common and specific effects of these shocks had been identified. The results indicate that Brazilian regions have symmetric responses to the common shocks but the most important shocks are the idiosyncratic ones.

Keywords : vector autoregression; unobsorved components; optimal currency area.

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