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The impact of monetary policy on the yield curve in the Brazilian economy

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  • Marcel Z. Aranha
  • Marcelo L. Moura

Abstract

O trabalho apresenta a metodologia utilizada na construção do índice de confiança do empresário de pequenos e médios negócios no Brasil (IC-PMN) e analisa os resultados da primeira coleta realizada no último trimestre de 2008. Os resultados indicam que o empresário brasileiro de pequenos e médios negócios encontra-se otimista com relação à trajetória da economia, mas a crise financeira mundial já começa a afetar a confiança dos empresários. Os resultados também indicam que os empresários demonstram mais otimismo em relação à sua própria trajetória do que em relação ao panorama econômico geral. Além disso, os empresários da região nordeste indicam estar mais otimistas que seus pares em outras regiões.

Suggested Citation

  • Marcel Z. Aranha & Marcelo L. Moura, 2009. "The impact of monetary policy on the yield curve in the Brazilian economy," Business and Economics Working Papers 078, Unidade de Negocios e Economia, Insper.
    • Handle: RePEc:aap:wpaper:078
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