Indexation, monetary accomodation and inflation in Brazil

Cardoso, Eliana A.

Please use this identifier to cite or link to this item: https://repositorio.ipea.gov.br/handle/11058/4811

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DC Field	Value	Language
dc.contributor.author	Cardoso, Eliana A.	-
dc.coverage.spatial	Brasil	pt_BR
dc.coverage.temporal	1968-1979	pt_BR
dc.date.accessioned	2015-10-16T17:05:38Z	-
dc.date.available	2015-10-16T17:05:38Z	-
dc.date.issued	2015-01	-
dc.identifier.uri	http://repositorio.ipea.gov.br/handle/11058/4811	-
dc.description.abstract	O texto apresenta um modelo de indexação para taxas de câmbio e salário e desenvolve um modelo que permite estudar o comportamento da taxa de crescimento e da inflação em uma economia onde os salários são indexados com taxa inflacionária passada.	pt_BR
dc.language.iso	en-US	pt_BR
dc.publisher	Instituto de Pesquisa Econômica Aplicada (Ipea)	pt_BR
dc.title	Indexation, monetary accomodation and inflation in Brazil	pt_BR
dc.title.alternative	Discussion Paper 7 : Indexation, monetary accomodation and inflation in Brazil	pt_BR
dc.title.alternative	Indexação, acomodação monetária e inflação no Brasil	pt_BR
dc.type	Discussion Paper	pt_BR
dc.rights.holder	Instituto de Pesquisa Econômica Aplicada (Ipea)	pt_BR
dc.source.urlsource	http://www.ipea.gov.br	pt_BR
dc.location.country	BR	pt_BR
dc.description.physical	22 p. : il.	pt_BR
dc.subject.vcipea	IPEA::Política Econômica. Política Social. Planejamento::Política Econômica	pt_BR
dc.subject.vcipea	IPEA::Condições Econômicas. Pesquisa Econômica. Sistemas Econômicos::Sistemas Econômicos	pt_BR
dc.rights.license	Reproduction of this text and the data it contains is allowed as long as the source is cited. Reproductions for commercial purposes are prohibited.	pt_BR
dc.subject.keyword	Indexação	pt_BR
dc.subject.keyword	Inflação	pt_BR
dc.subject.keyword	Salários	pt_BR
dc.subject.keyword	Taxa de câmbio	pt_BR
dc.subject.keyword	Taxa de crescimento	pt_BR
dc.relation.references	http://repositorio.ipea.gov.br/handle/11058/1082	pt_BR
ipea.description.objective	Apresentar um modelo de indexação para taxas de câmbio e salário.	pt_BR
ipea.description.methodology	The model consists of a standard Keynesian model, closed by a Phillips curve and a wage indexation rule. Variables are stated in a growth rates. The author assumes to be demand determined, and demand to depend on the real money stock and on the expected inflation rate. Given the expected inflation rate, the expected real interest rate falls, stimulating demand. This is the Keynes-Hicks or liquidity effect. On the other hand, given the nominal interest rate, an increase in the expected inflation rate reduces the expected real interest rate and stimulates demand. This is know as the Mundell effect.	pt_BR
ipea.description.additionalinformation	Série monográfica: Discussion Paper ; 7	pt_BR
ipea.description.additionalinformation	Possui referências bibliográficas e apêndice	pt_BR
ipea.description.additionalinformation	Originally published by Ipea in July 1981 as number 34 of the series Texto para Discussão	pt_BR
ipea.access.type	Acesso Aberto	pt_BR
ipea.rights.type	Licença Comum	pt_BR
ipea.englishdescription.abstract	This paper argues that between 1968 an 1979, due to indexation of exchange rates and wages, and because of monetary accommodation, the Brazilian inflation rate followed a random walk, while the real growth rate remained constant, except for uncorrelated shocks. Develops a model that permits to study the behavior of inflation and growth rates in an economy where wages are indexed to past inflation rates, purchasing power parity is guaranteed by a crawling peg, and where monetary authorities follow an accommodation rule. Concludes with the empirical evidence.	pt_BR
ipea.researchfields	N/A	pt_BR
ipea.classification	Administração Pública. Governo. Estado	pt_BR
ipea.classification	Economia. Desenvolvimento Econômico	pt_BR
ipea.classification	Sistema Monetário. Finanças. Bancos	pt_BR
Appears in Collections:	Economia. Desenvolvimento Econômico: Livros

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