Purpose The purpose of this paper is to analyze the conduct of monetary policy in Brazil and estimate the country’s neutral real interest rate. Design/methodology/approach The authors make use of a state-space macroeconomic model representation. Findings The period of analysis goes from 2003...

Purpose – The purpose of this paper is to demonstrate that both the reputation of the monetary authority and the credibility of the regime of inflation targeting are important to reduce the inflation bias and the effort of the monetary authority in an emerging economy....

Purpose – The purpose of this paper is to make an empirical analysis concerning time-inconsistency problem (TIP) based on a sample of 12 countries for the period from 1993 to 2011. Design/methodology/approach – The existence of TIP only makes sense if there is a trade-off between inflation...

Purpose – The purpose of this paper is to analyze the influence of prudential regulation and monetary policies on the supply of credit as well as the influence of such policies on the aggregate investment through the credit channel in Brazil. Design/methodology/approach – The empirical...

Purpose The purpose of this paper is to investigate the relationship between inflation, interest rate, and output gap in the US economy in the post Second World War period, without assuming any structure nor imposing any restriction on that relationship. Design/methodology/approach The authors...

Purpose – The purpose of this paper is to offer anti‐corruption experts' personal assessments of the progress international organizations have made in fighting corruption. Design/methodology/approach – This paper contains a survey of the viewpoints of a number of anti‐corruption experts...

Purpose – The purpose of this paper is to present a model that studies the impact of a tightening monetary policy on banking failure in a developing country. Design/methodology/approach – The interest rate on treasury bills is included in the model to measure monetary policy. Since the model...

Purpose – The purpose of this paper is to try to understand the reasons for the differences in amplitude of monetary policy (MP) rate cycles in the USA and the euro area. Among the different candidates, the paper aims to test the role of economic structures, macroeconomic shocks, and MP...

Purpose – The paper is to understand how the financial system is influenced by macroeconomic shocks and how the financial stance, in turn, feeds back into the macroeconomic environment is key for policy makers. The most recent financial crisis has demonstrated the need for a deeper...

Purpose – The purpose of this paper is to study the short‐term macroeconomic effects of the fiscal policy in Colombia for the 1980‐2007 period using a structural vector autoregression (SVAR) model. Design/methodology/approach – The authors' benchmark is a five‐variable SVAR model which...