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This paper attempts to extend empirical investigations about the asymmetric effects of monetary shocks in the Brazilian economy. We specify and estimate a nonlinear smooth transition vector autoregressive model including output, price level, exchange rate and a monetary policy indicator (Selic...
Persistent link: https://www.econbiz.de/10009268869
This paper attempts to extend empirical investigations about the asymmetric effects of monetary shocks in the Brazilian economy. We specify and estimate a nonlinear smooth transition vector autoregressive model including output, price level, exchange rate and a monetary policy indicator (Selic...
Persistent link: https://www.econbiz.de/10010330562
Persistent link: https://www.econbiz.de/10002088271
Persistent link: https://www.econbiz.de/10001715737
This paper estimates the Brazilian NAILO (Nonaccelerating Inflation Level of Output), obtains (Bayesian) probability bands for the Nailo and for its growth rate, and investigates the relationship between deviations of output with respect to the Nailo and the acceleration of inflation. As...
Persistent link: https://www.econbiz.de/10003772458
macroeconomic stability in Brazil. For this purpose,besides a revision in the literature, the paper develops an empirical study on … the effects of financial liberalization in Brazil on a set of macroeconomic variables usingtwo models: one with a de jure … intends to evaluatethe proposal that the full convertibility of capital account in Brazil would result in the reduction of …
Persistent link: https://www.econbiz.de/10003916574
This paper estimates the primary structural budget balance (eliminating the effects due to cyclical fluctuations in GDP and oil price) for the central government and public administrations from 1997 to the second quarter of 2010. Some adjustments were made on the IMF methodology to account for...
Persistent link: https://www.econbiz.de/10008778167
stochastic general equilibrium" (DSGE) model for Brazil. The model is based on Smets and Wouters (2003) and Christiano ET AL …
Persistent link: https://www.econbiz.de/10003965221
This paper analyzes the dynamic properties of a DSGE model for Brazil, under alternative model parameterizations. First …
Persistent link: https://www.econbiz.de/10009229267
Persistent link: https://www.econbiz.de/10009730202