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monetary shocks have asymmetric effects on output growth and inflation. Regarding to the business cycle, contractionary …. In addition, we found that inflation and output growth are rigid to countercyclical monetary shocks. …
Persistent link: https://www.econbiz.de/10010330562
This article verifies the occurrence of a real estate bubble in the Brazilian economy. Overall, our results suggest the existence of a bubble in the real estate sector of the economy. The Austrian School of economics provides a solid explanation to this phenomenon, which are reinforced by...
Persistent link: https://www.econbiz.de/10010330557
adoption of the inflation targeting regime in Brazil. The BCB`s reaction function has some features that corroborate the thesis … floor; and b) is inattentive to the state of the economy (the inflation and output gaps), and expresses an excessive …
Persistent link: https://www.econbiz.de/10010330873
The evaluation of forecasts performance of market expectations about the Brazilian inflation rate (Focus survey) is … important given the prominent role of these expectations in the conduction of monetary policy in Brazil. Lima e Céspedes (2006 …) showed that, in the period 2000.1 2005.4, several models had superior forecast ability than the mean of market inflation rate …
Persistent link: https://www.econbiz.de/10010330660
This article investigates the effects of fiscal policy shock in the Brazilian economy using quarterly data during the period between January/1995 and December/2007. We follow the agnostic procedure suggested by Mountford and Uhlig (2005) to verify separately the impact of the unexpected positive...
Persistent link: https://www.econbiz.de/10010330845
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...
Persistent link: https://www.econbiz.de/10010330815
The forecasting of government revenues is extremely important for an adequate budget execution, since a good accuracy in the estimation allows the stipulation of an expenditure level that meets the demands of the population. Using data released by the National Council of Treasury Policy, the...
Persistent link: https://www.econbiz.de/10013400244
This study aims to estimate the system of bank credit demand and supply in Brazil. Understanding how the balance is … observe the expected signs into default, the cost of funding and inflation in credit supply function in both segments. Finally …
Persistent link: https://www.econbiz.de/10010330886
reserves, so as to enforce its policy rate. In the opposite case - as in Brazil and many other developing countries - the …
Persistent link: https://www.econbiz.de/10011537884
We present a detailed survey of changes in the reserve requirement system in Brazil and analyze the system's main …
Persistent link: https://www.econbiz.de/10010331102