Mendonça, Mario Jorge Medrano, Luis Alberto Sachsida, Adolfo
Year of Publication:
Texto para Discussão, Instituto de Pesquisa Econômica Aplicada (IPEA) 1631
This article investigates the effects of monetary policy shock in the Brazilian real state market using structural VAR through the period June/2000 to August/2010. The identification is done following the agnostic procedure suggested by Uhlig (2005). The mains results are: The stock of credit to finance housing points out a drop of 2% immediately after and the industrial output of civil construction decreases strongly after this contractionary shock.