Publication: Teoría de los ciclos reales en economía abiertas: una aplicación al caso español
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1997
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Facultad de Ciencias Económicas y Empresariales. Instituto Complutense de Análisis Económico (ICAE)
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En este trabajo se analiza el comportamiento cíclico de algunas variables reales de la economía española. Presentamos un modelo de equilibrio general, dinámico y estocástico para una economía abierta y pequeña, el cual es parametrizado, calibrado y simulado con el fin de evaluar su consistencia con las principales fluctuaciones agregadas asociadas al ciclo económico español. Los resultados muestran que el modelo es capaz de explicar en términos generales las volatilidades cíclicas y correlaciones de los componentes de la renta nacional así como el caracter contracíclico de la balanza comercial.
This paper analyzes the ciclical behaviour of the main real variables of the spanish economy. To do that, we use a simple dynamic stochastic general equilibrium model for a small open economy, wich is parameterized, calibrated and simulated to evaluate its cosistence with somee empirical regularities of the spanish economic fluctuations. We find that the model proposed is consistent with the cyclical volatilities and correlations of the national income account components, as well as the countercyclical character of the trade balance.
This paper analyzes the ciclical behaviour of the main real variables of the spanish economy. To do that, we use a simple dynamic stochastic general equilibrium model for a small open economy, wich is parameterized, calibrated and simulated to evaluate its cosistence with somee empirical regularities of the spanish economic fluctuations. We find that the model proposed is consistent with the cyclical volatilities and correlations of the national income account components, as well as the countercyclical character of the trade balance.
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