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variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
Persistent link: https://www.econbiz.de/10011372339
variables. These results cast some doubts about the ability of the Phillips curve to describe the dynamics of inflation in the …
Persistent link: https://www.econbiz.de/10010405199
The period between 2003-2005 illustrated a high growth in world trade. In this context, Brazil was able to revert its trade deficit, taking advantage of a considerable surplus. Nevertheless, this trade dynamism did not go hand in hand with national economic growth. This article makes an...
Persistent link: https://www.econbiz.de/10005000186
One of the main objectives of the Bretton Woods negotiations was to guarantee the firm control over competitive exchange rate devaluations, which had worsened the effects of the economic crisis of the 1930s. The par value exchange rate system was thus created, representing a link between the...
Persistent link: https://www.econbiz.de/10010330523
One of the main objectives of the Bretton Woods negotiations was to guarantee the firm control over competitive exchange rate devaluations, which had worsened the effects of the economic crisis of the 1930s. The par value exchange rate system was thus created, representing a link between the...
Persistent link: https://www.econbiz.de/10009783714
The exchange rate affects the economy productive structure through its impact on the external sector. Some empirical studies suggest that the recent process of exchange rate evaluation in the Brazilian economy has a significant impact on some of its key sectors competitiveness, disturbing...
Persistent link: https://www.econbiz.de/10005429893
up in the following: i) the pass-through to the next month inflation is around 0.04 percentage points (p.p.) (0.48 p ….p. over the annualized inflation); ii) a shock on the unemployment rate lasts for 18 months; iii) a shock on the expectations … are carried to the next month inflation (0.58 p.p. over the annualized inflation); and iv) a shock on the inflation rate …
Persistent link: https://www.econbiz.de/10009553780
) restrictions over the sum of the coefficients associated with inflation; b) the coefficient associated to the expectation of … inflation is greater than the coefficient associated with past inflation (which is in contrast with previous studies to the … determinants of current inflation. …
Persistent link: https://www.econbiz.de/10009273892
This paper tests Phillips curves using an autoregressive distributed lag (ADL) specification that encompasses the New Keynesian Phillips curve (NKPC), the Hybrid Phillips curve (HPC), the Sticky-Information Phillips curve (SIPC), and the accelerationist Phillips curve (APC). We use data from...
Persistent link: https://www.econbiz.de/10011372176
study, the following are more remarkable. Firstly, the inflationary inertia and expectation of inflation are important … variables for the dynamic of inflation although the relevance of expectation seems to be more relevant in a more recent period … that the sum of coefficients of lagged inflation and expectation of inflation is equal to unity. Thirdly, the effect of …
Persistent link: https://www.econbiz.de/10010330593