Tests for the hysteresis hypothesis in Brazilian industrialized exports: A threshold cointegration analysis
Contribuinte(s) |
UNIVERSIDADE DE SÃO PAULO |
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Data(s) |
19/10/2012
19/10/2012
2008
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Resumo |
This paper examines the hysteresis hypothesis in the Brazilian industrialized exports using a time series analysis. This hypothesis finds an empirical representation into the nonlinear adjustments of the exported quantity to relative price changes. Thus, the threshold cointegration analysis proposed by Balke and Fomby [Balke, N.S. and Fomby, T.B. Threshold Cointegration. International Economic Review, 1997; 38; 627-645.] was used for estimating models with asymmetric adjustment of the error correction term. Amongst sixteen industrial sectors selected, there was evidence of nonlinearities in the residuals of long-run relationships of supply or demand for exports in nine of them. These nonlinearities represent asymmetric and/or discontinuous responses of exports to different representative measures of real exchange rates, in addition to other components of long-run demand or supply equations. (C) 2007 Elsevier B.V. All rights reserved. |
Identificador |
ECONOMIC MODELLING, v.25, n.2, p.171-190, 2008 0264-9993 http://producao.usp.br/handle/BDPI/20565 10.1016/j.econmod.2007.04.011 |
Idioma(s) |
eng |
Publicador |
ELSEVIER SCIENCE BV |
Relação |
Economic Modelling |
Direitos |
restrictedAccess Copyright ELSEVIER SCIENCE BV |
Palavras-Chave | #international trade #time series econometrics #I(1) PROCESSES #TRADE #INFERENCE #MODELS #Economics |
Tipo |
article original article publishedVersion |