The Brazilian granular business cycle

Murilo Silva () and Sergio Da Silva
Additional contact information
Murilo Silva: Federal University of Santa Catarina

Economics Bulletin, 2020, vol. 40, issue 1, 463-472

Abstract: We investigate whether the granular hypothesis holds for the Brazilian business cycle and find that idiosyncratic shocks to net revenues of the top 100 companies explain about one-third of GDP fluctuations for annual data. Quarterly data cannot dismiss the granular hypothesis either. However, the granular hypothesis seems to break down after the 2008 financial crisis.

Keywords: Business cycle theory; Idiosyncratic micro-level shocks; Granularity (search for similar items in EconPapers)
JEL-codes: D2 E3 (search for similar items in EconPapers)
Date: 2020-02-10
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.accessecon.com/Pubs/EB/2020/Volume40/EB-20-V40-I1-P40.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-20-00022

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().