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Business cycle accounting, Covid-19 and the Iberian Peninsula
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| 3.37 MB | Adobe PDF |
Orientador(es)
Resumo(s)
We apply the Business Cycle Accounting method proposed by Chari et al. (2007) to Portugal
and Spain during the Covid-19 period, using BCAppIt! app by Loria and Brinca (2020). We
conclude that both countries behave similarly, with the labor wedge as the main driver of the
episode. The efficiency wedge took a secondary role, and the investment wedge was a
relevant contributor for Portugal. The common access to International Assistance, under the
umbrella of the EU and the ECB may explain why both countries behaved similarly, although
internal public policy may have contributed to the difference regarding the investment wedge
Descrição
Palavras-chave
Business cycle accounting Covid-19 Macroeconomic fluctuations Financial frictions Wedges Economics