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dc.contributor.authorCardoso, Eliana A.-
dc.description.abstractO 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.publisherInstituto de Pesquisa Econômica Aplicada (Ipea)pt_BR
dc.titleIndexation, monetary accomodation and inflation in Brazilpt_BR
dc.title.alternativeDiscussion Paper 7 : Indexation, monetary accomodation and inflation in Brazilpt_BR
dc.title.alternativeIndexação, acomodação monetária e inflação no Brasilpt_BR
dc.typeDiscussion Paperpt_BR
dc.rights.holderInstituto de Pesquisa Econômica Aplicada (Ipea)pt_BR
dc.description.physical22 p. : il.pt_BR
dc.subject.vcipeaIPEA::Política Econômica. Política Social. Planejamento::Política Econômicapt_BR
dc.subject.vcipeaIPEA::Condições Econômicas. Pesquisa Econômica. Sistemas Econômicos::Sistemas Econômicospt_BR
dc.rights.licenseReproduction 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.keywordTaxa de câmbiopt_BR
dc.subject.keywordTaxa de crescimentopt_BR
ipea.description.objectiveApresentar um modelo de indexação para taxas de câmbio e salário.pt_BR
ipea.description.methodologyThe 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.additionalinformationSérie monográfica: Discussion Paper ; 7pt_BR
ipea.description.additionalinformationPossui referências bibliográficas e apêndicept_BR
ipea.description.additionalinformationOriginally published by Ipea in July 1981 as number 34 of the series Texto para Discussãopt_BR
ipea.access.typeAcesso Abertopt_BR
ipea.rights.typeLicença Comumpt_BR
ipea.englishdescription.abstractThis 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.classificationAdministração Pública. Governo. Estadopt_BR
ipea.classificationEconomia. Desenvolvimento Econômicopt_BR
ipea.classificationSistema Monetário. Finanças. Bancospt_BR
Appears in Collections:Economia. Desenvolvimento Econômico: Livros

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