Advanced Search
MyIDEAS: Login

Metas de inflação e investimento: o caso do Brasil

Contents:

Author Info

  • Marco Flavio da Cunha Resende

    (Cedeplar-UFMG)

  • Fabiana Lima

    (PUC-SP)

Abstract

In this paper two hypotheses about the relationship between monetary policy and investment in the context of the inflation target system were tested. One of these hypotheses is based on the idea of neutrality of money, and the other hypothesis is based on the reject of that idea. An investment equation for the Brazilian economy was estimated (1848-2005), and a proxy for current expectations about monetary policy was adopted as one of the independent variables of the equation. Structural break tests for the equation were conduced by the assumption of changes on the coefficients of the equation after the inflation target system implementation. Another equation using piece-wise dummy variable was estimated. The results highlight that a negative correlation between current expectation of restrictive monetary policy and current investment rose after the inflation target system implementation.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.cedeplar.ufmg.br/pesquisas/td/TD%20316.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td316.

as in new window
Length: 25 pages
Date of creation: Aug 2007
Date of revision:
Handle: RePEc:cdp:texdis:td316

Contact details of provider:
Postal: Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil
Phone: 55-31-3409-7100
Fax: +55 31 3201-3657
Email:
Web page: http://www.cedeplar.ufmg.br
More information through EDIRC

Order Information:
Postal: Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil

Related research

Keywords: inflation target; monetary policy; investment;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:cdp:texdis:td316

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gustavo Britto).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.