Please use this identifier to cite or link to this item: http://www.alice.cnptia.embrapa.br/alice/handle/doc/857160
Research center of Embrapa/Collection: Área de Informação da Sede - Artigo em periódico indexado (ALICE)
Date Issued: 2007
Type of Material: Artigo em periódico indexado (ALICE)
Authors: ALMEIDA, C. L. de
SOUZA, G. da S. e
MOREIRA, T. B. S.
Additional Information: CHARLES LIMA DE ALMEIDA, Tribunal de Contas da União; GERALDO DA SILVA E SOUZA, SGE; TITO BELCHIOR S. MOREIRA, Universidade Católica de Brasília.
Title: Optimal monetary rules in a context of fiscal disequilibrium: evidence from Brazil (1996:I to 2007:I).
Publisher: Economia e Desenvolvimento, Recife, v. 7, n. 1. p. 123-137, 2007.
Language: pt_BR
Keywords: Optimal monetary rule
Fiscal desequilibrium
Fiscal dominance regime
Description: This paper aims to derive an optimal monetary policy rule in a context of fiscal disequilibrium. We analyze the transmission channels of the fiscal and monetary policies through estimation of a Philips curve and the fiscal IS curve. The results indicate that the fiscal deficit is statistically significant and affects the inflation rate indirectly via output gap. Furthermore, the results also suggest a perverse effect of the interest rate on the exchange rate and on inflation. In this context, we found empirical evidence that the Brazilian economy shows a non-Ricardian regime for the period 1996: I to 2007: I.
Data Created: 2010-07-08
Appears in Collections:Artigo em periódico indexado (AI-SEDE) / Embrapa Informação Tecnológica (SCT)

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