The Trade-off between inflation and economic activity in Brazil

Discussion Paper 229 : The Trade-off between inflation and economic activity in Brazil;
A dinâmica entre inflação e atividade econômica no Brasil

dc.creatorMaka, Alexis
dc.creatorBarbosa Filho, Fernando de Holanda
dc.date2017-11-27T18:46:32Z
dc.date2017-11-27T18:46:32Z
dc.date2017-11
dc.date.accessioned2023-09-28T19:17:31Z
dc.date.available2023-09-28T19:17:31Z
dc.identifierhttp://repositorio.ipea.gov.br/handle/11058/8168
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/9035628
dc.descriptionThis paper contrasts empirically four leading models of inflation dynamics – the accelerationist Phillips curve (APC), the new Keynesian Phillips curve (NKPC), the hybrid Phillips curve (HPC), and the sticky information Phillips curve (SIPC). We employ an encompassing Phillips curve specification that allows us to derive tests for these models within a single framework. According to the generalized method of moments (GMM) estimator, the evidence suggests that the restrictions implied by the NKPC, HPC and SIPC are rejected for the period after the Real Plan in Brazil. Only the restrictions implied by the APC are not rejected. However, when we construct confidence regions that are robust to weak instruments, it is not possible to reject any of the Phillips curve specifications, including the NKPC.
dc.description19 p. : il.
dc.formatapplication/pdf
dc.formatapplication/pdf
dc.languagept-BR
dc.publisherInstituto de Pesquisa Econômica Aplicada (Ipea)
dc.rightsInstituto de Pesquisa Econômica Aplicada (Ipea)
dc.rightsReproduction of this text and the data it contains is allowed as long as the source is cited. Reproductions for commercial purposes are prohibited.
dc.sourcehttp://www.ipea.gov.br
dc.subjectIPEA::Finanças Públicas. Bancos. Relações Monetárias Internacionais::Moedas. Financiamento::Dinheiro::Inflação
dc.subjectIPEA::Condições Econômicas. Pesquisa Econômica. Sistemas Econômicos::Condições Econômicas::Crescimento Econômico::Desenvolvimento Econômico
dc.subjectPhillips curves
dc.subjectWeak instruments
dc.subjectFully robust confidence regions
dc.titleThe Trade-off between inflation and economic activity in Brazil
dc.titleDiscussion Paper 229 : The Trade-off between inflation and economic activity in Brazil
dc.titleA dinâmica entre inflação e atividade econômica no Brasil
dc.typeDiscussion Paper
dc.coverageBrasil
dc.coverage1996-2015


Este ítem pertenece a la siguiente institución