Schettini, Bernardo Patta; Gouvêa, Raphael Rocha; … - 2012
.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 …We estimate a VAR model of the Phillips curve with an exchange rate shock to the Brazilian economy. Several different …