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Mecanismos de transmissão monetária e a determinação da taxa de juros: uma aplicação da regra de Taylor ao caso brasileiro

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  • Mendonça, Helder Ferreira de

Abstract

With the return of the flexible exchange regime in the beginning of 1999, the search for the new nominal anchor awakened the monetary economists to a new question: how to conduct the monetary policy in Brazil? The use of inflation targets since June 1999 did not solve the problem because it did not define an efficient interest rate strategy. This paper analyzes the main types of monetary transmission mechanisms found in the literature in regards to the Brazilian case. Last but not least important, it applies a version of Taylor´s rule to the Brazilian monetary policy.

Suggested Citation

  • Mendonça, Helder Ferreira de, 2001. "Mecanismos de transmissão monetária e a determinação da taxa de juros: uma aplicação da regra de Taylor ao caso brasileiro," Revista Economia e Sociedade, Instituto de Economia, Universidade Estadual de Campinas (UNICAMP), vol. 16, pages 1-17, January.
  • Handle: RePEc:euc:ancoec:v:16:y:2001:p:65-81
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