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Fiscal Costs Of Monetary Policy: Indirect Effects Of An Interest Rate Shock On Brazilian Public Net DebtCustos Fiscais Da Política Monetária: Os Efeitos Indiretos De Um Choque De Juros Sobre A Dívida Líquida Do Setor Público

Carvalho; Laura; Diniz; André; Pedrosa; Ítalo; Rossi; Pedro (Editora 34, 2016)

Fiscal costs of monetary policy: indirect effects of an interest rate shock on Brazilian public net debt

Carvalho, Laura; Diniz, André; Pedrosa, Ítalo; Rossi, Pedro (Editora 34, 2016-09-01)

The paper estimates the fiscal cost of an increase in the Brazilian policy interest rate - the SELIC - by considering not only the direct effect on the yield of public bonds that are indexed to the SELIC, but also indirect ...