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Investment-Specific Technological Change and the Brazilian Macroeconomy
Brazilian Review of Econometrics
This study discusses the importance of investment-specific technological change for the Brazilian macroeconomy. We document evidence that a model that takes this specific type of technical progress into account is better suited to explain the Brazilian economy over the long term. We then present a DSGE [Dynamic Stochastic General Equilibrium] model with two sectors that incorporates technical progress in the investment goods sector and estimate the model for Brazil. The results demonstrate thatdoi:10.12660/bre.v35n22015.57675 fatcat:pbz3nnan35anvlro45sq4lr2di