Conservadorismo e rigidez na política monetária: uma estimativa da função de reação do BCB (2000-2007)
This paper aims at evaluating the conduction of monetary policy after the adoption of inflation targeting. Formation of Selic rate is modeled by estimating a reaction function of the BCB. Results show an excessive degree of interest rate smoothing and a high level of equilibrium interest rate. This...
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| Format: | Article |
| Language: | English |
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Editora 34
2011-09-01
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| Series: | Brazilian Journal of Political Economy |
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| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572011000300006&lng=en&tlng=en |