Pass-through of exchange rate shocks in Brazil as a small open economy

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cepal.articleNo7
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2023/4-P
cepal.docTypeRevistas
cepal.jelCodeE31
cepal.jelCodeE52
cepal.jelCodeF31
cepal.jobNumberRVI139_Feijo
cepal.physicalDescriptiongráficos., tablas.
cepal.regionalOfficeSantiago
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicEngINFLATION
cepal.topicEngPRICES
cepal.topicSpaINFLACIÓN
cepal.topicSpaPRECIOS
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorCerqueira, Luiz Fernando
dc.contributor.authorFeijó, Carmem Aparecida
dc.contributor.authorGonçalves, Thallis Macedo de Assis
dc.coverage.spatialEngBRAZIL
dc.coverage.spatialSpaBRASIL
dc.date.accessioned2023-07-06T17:20:45Z
dc.date.available2023-07-06T17:20:45Z
dc.date.issued2023-04
dc.description.abstractAn econometric model is used to analyse pass-through from the exchange rate to inflation, considering the monetary policy instrument variable, the target variable, the level of economic activity, the level of credit and the exchange rate. This system is exogenously affected by commodity prices, the level of external sector activity and the uncertainty perceived by international investors. Using vector error correction models, we find greater pass-through to administered prices than to free prices and a marked asymmetry characterized by stronger exchange rate pass-through when the domestic currency appreciates (deflationary effect) than when it depreciates (inflationary effect). Moreover, we note that the asymmetry in pass-through to domestic prices is due to the behaviour of free prices, since asymmetry in administered prices is not very significant.
dc.formatTexto
dc.format.extentpáginas. 135-15
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2023/4-P
dc.identifier.urihttps://hdl.handle.net/11362/48973
dc.language.isoeng
dc.physicalDescriptionp. 135-157: grafs., tabls.
dc.relation.isPartOfCEPAL Review
dc.relation.isPartOfNo139
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.translationLanguagespa
dc.relation.translationRecordTraspaso de los choques del tipo de cambio en el Brasil como pequeña economía abierta
dc.relation.translationUrihttps://hdl.handle.net/11362/48800
dc.rights.coarDisponible
dc.subject.unbisEngMONETARY POLICY
dc.subject.unbisEngFOREIGN EXCHANGE RATES
dc.subject.unbisEngPRICES
dc.subject.unbisEngINFLATION
dc.subject.unbisEngMEASUREMENT
dc.subject.unbisEngMATHEMATICAL ANALYSIS
dc.subject.unbisSpaPOLITICA MONETARIA
dc.subject.unbisSpaTIPOS DE CAMBIO
dc.subject.unbisSpaPRECIOS
dc.subject.unbisSpaINFLACION
dc.subject.unbisSpaMEDICION
dc.subject.unbisSpaANALISIS MATEMATICO
dc.titlePass-through of exchange rate shocks in Brazil as a small open economy
dc.type.coarartículo
dc.usergrouprevistacepal
dspace.entity.typePublication
relation.isAuthorOfPublication4bbae784-50db-400e-9496-7e19b978474e
relation.isAuthorOfPublicationc81b7a9d-9141-4ef7-b246-9ae49fe721d7
relation.isAuthorOfPublication3f57896c-f355-4477-b2d2-de2fe5553302
relation.isAuthorOfPublication.latestForDiscovery4bbae784-50db-400e-9496-7e19b978474e
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