Uncertainty and industrial production in Brazil: A sectorial approach
Abstract
Abstract
This paper aims to analyze the effects of uncertainty on Brazilian industrial production. We estimate fixed effects panels considering 17 subsectors of manufacturing activity. Also, we calculate two types of proxies to uncertainty: (i) 17 subsectorial indexes and (ii) two aggregate indexes, in order to measure industrial uncertainty. The results showed that the different kinds of uncertainty negatively affect industrial production. Despite the fact that subsectorial uncertainty does not impact differently the types of goods (capital, intermediate, durable and nondurable goods), there is evidence that macroeconomic uncertainty has a distinct effect among them, being the capital goods production more negatively affected.
Keywords: Uncertainty. Economic Activity. Industrial Production. Panel data.
JEL Codes: C33, E00.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2021 Ariana Stephanie Zerbinatti, Bruno de Paula Rocha, Ana Abras
![Creative Commons License](http://i.creativecommons.org/l/by/4.0/88x31.png)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).