What happens after the Central Bank of Brazil increases the target interbank rate by 1%?

dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorCysne, Rubens Penha
dc.date.accessioned2014-10-17T13:50:29Z
dc.date.accessioned2019-05-22T13:38:00Z
dc.date.available2014-10-17T13:50:29Z
dc.date.available2019-05-22T13:38:00Z
dc.date.created2014-10-17T13:50:29Z
dc.date.issued2005-03-10
dc.identifierhttp://hdl.handle.net/10438/12136
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/2684718
dc.description.abstractIn this paper I use Taylor's (2001) model and Vector Auto Regressions to shed some light on the evolution of some key macroeconomic variables after the Central Bank of Brazil, through the COPOM, increases the target interest rate by 1%. From a quantitative perspective, the best estimate from the empírical analysis, obtained with a 1994 : 2 - 2004 : 2 subsample of the data, is that GDP goes through an accumulated decline, over the next four years, around 0.08%. Innovations to interest rates explain around 9.2% of the forecast erro r of GDP.
dc.languageeng
dc.publisherEscola de Pós-Graduação em Economia da FGV
dc.relationSeminários de pesquisa econômica da EPGE
dc.rightsTodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveis
dc.titleWhat happens after the Central Bank of Brazil increases the target interbank rate by 1%?
dc.typeDocumentos de trabajo


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