key features of the Brazilian economy. I first calibrate and then I use Bayesian methods to estimate the model for Brazil …-cyclicality of the fiscal policy in Brazil. Moreover, the results suggest that tax rate changes have been used to counter changes in …

inflation, so that there is no more the direct relationship between marginal cost and output gap that characterizes the closed …

We estimate a DSGE model for Brazil that includes both anticipated and unanticipated fiscal shocks. The model contains …, we find that anticipated shocks are less relevant in Brazil when compared to other countries, and that the degree of …

exchange rate and to the medium term interest rate are for the 1999-2004 period, the most important sources of inflation rate …

When analyzing the demand for money in high inflation processes it has been suggested [Tourinho (1995)] that we should … consider not only the effects of changes in the expected inflation rate but also changes in the expected variability of … inflation. The model in Lima & Ehlers (1993) is extended here to deal more accurately with the uncertainty produced by the …

A specification for the demand for money in economies where inflation is high and stochastic is presented. It uses a … generalized functional form and includes the variance of the inflation rate as an explanatory variable, and is estimated for … Brazil in the period 1974/94 under the assumption that the monetary policy is passive and that expectations are adaptive. The …

This paper contrasts empirically four leading models of inflation dynamics - the accelerationist Phillips curve (APC … by the NKPC, HPC and SIPC are rejected for the period after the Real Plan in Brazil. Only the restrictions implied by the …

decades. Inflation reached unprecedented levels and economic growth declined considerably. Despite the overall perception that … macroeconomic performance is closely related to poverty and inequality, very few quantitative estimates are available in Brazil and … estimates using aggregated and pooling time series reveal that inflation seems to have little association with inequality and …