Un modelo estocástico de equilibrio general para la economía uruguaya con producción de commodities

Serafin Frache and Helena Rodríguez ()
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Helena Rodríguez: Banco Central del Uruguay

No 2021006, Documentos de trabajo from Banco Central del Uruguay

Abstract: In this paper we analyze the main results obtained in the estimation of a DSGE model with commodity production, which was constructed as an extension of the baseline model used in the Central Bank of Uruguay. We model the production for three relevant sectors in the Uruguayan economy such as pulp, agricultural and dairy and meat production. In the baseline model these sectors are introduced as endowments that evolve exogenously over time and thus are not able to capture in a satisfactory way the real effects of some shocks. With this extension we try to adjust the baseline model in order to obtain better impulse-response functions that improve the description of the transmission mechanisms of the sectoral shocks to the rest of the economy.

Keywords: DSGE; monetary policy; commodity prices; Uruguay (search for similar items in EconPapers)
JEL-codes: E52 F41 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2021
New Economics Papers: this item is included in nep-ban, nep-dge and nep-mac
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