Asymmetric effects of monetary policy in Brazil

Asymmetric effects of monetary policy in Brazil

In this paper, we check whether the effects of monetary policy actions on output in Brazil are asymmetric. Therefore, we estimate Markov-switching models that allow positive and negative shocks to affect the growth rate of output in an asymmetric fashion in expansion and recession states. In general...

Full description

Bibliographic Details
Main Authors: Edilean Kleber da Silva Bejarano Aragón, Marcelo Savino Portugal
Format: Article
Language:English
Published: Universidade de São Paulo 2009-06-01
Series:Estudos Econômicos
Subjects:
política monetária
assimetrias
choques negativos e positivos
ciclo de negócios
modelos Markovswitching
monetary policy
asymmetries
positive and negative shocks
business cycle
Markov-switching models
Online Access:http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-41612009000200002

Internet

http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-41612009000200002

Similar Items