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- Title
ESTIMAÇÃO DA REGRA DE TAYLOR PARA O BRASIL (2004- 2014): HOUVE RUPTURA NA CONDUÇÃO DA POLÍTICA MONETÁRIA PÓS-2011?
- Authors
Silva de Castro, Alisson; Medeiros Aguiar, Marckson Byan; da Silva Alves, Janaina
- Abstract
This study aims to estimate a Taylor rule for the Brazilian economy in the period of 2004- 2014 and verify that there was disruption in the operation of monetary policy after the exchange of the Central Bank of presidents took place between 2010 and 2011. The results were statistically significant and indicated that an increase of 1% over the deviations of inflation expectations in relation to your goal, and the actual output relative to its equilibrium level, causes the central bank to raise interest rates by 0.1094% and 0, 0806%, respectively. Moreover, the Chow test indicated that there was a structural break in the model at the first meeting after Alexandre Tombini assume the presidency of the Central Bank.
- Publication
Veredas FAVIP: Revista Eletrônica de Ciências e Cultura, 2017, Vol 10, Issue 2, p35
- ISSN
1679-1746
- Publication type
Article