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Asymmetric monetary and exchange-rate policies in Latin American countries that use inflation targeting
- Author(s):
- Libman, Emiliano
- Serie:
- Published in:
- CEPAL Review
- No.
- 125
- Date Issued:
- 2018-08-18
- Physical Description
- p. 29-44; grafs., tabls.
- UN symbol:
- handle
In recent decades, Latin American countries have adopted more flexible exchange-rate regimes and set inflation targets. Several authors argue that some countries’ monetary and exchange-rate policies suffer from a procyclical bias, whereby central banks are reluctant to reduce interest rates when in... -
Business cycles, expectations and inflation in Brazil: a New-Keynesian Phillips curve analysis
- Author(s):
- Arruda, Elano Ferreira |
- Oliveira de Olivindo, Maria Thalita Arruda |
- Castelar, Ivan
- Serie:
- Published in:
- CEPAL Review
- No.
- 124
- Date Issued:
- 2018-04
- Physical Description
- p. 143-158; grafs., tabls.
- UN symbol:
- handle
This article analyses Brazil’s recent inflation dynamic, considering different expectations environments within the New-Keynesian Phillips curve framework, to observe how the potential for discretionary behaviour by the monetary authority can interfere in economic agents’ forward-looking expectatio... -
A structuralist-Keynesian model for determining the optimum real exchange rate for Brazil’s economic development process: 1999-2015
- Author(s):
- Nassif, André |
- Feijó, Carmen Aparecida |
- Araújo, Eliane
- Serie:
- Published in:
- CEPAL Review
- No.
- 123
- Date Issued:
- 2017-12
- Physical Description
- p. 188-208; grafs., tabls
- UN symbol:
- handle
The “optimum” long-run real exchange rate is the rate that will efficiently channel production resources into industries that generate and diffuse productivity gains in the economy as a whole and that will thus tend to speed up and sustain the economic development process. Rather than employing con... -
A regional reserve fund for Latin America
- Author(s):
- Titelman Kardonsky, Daniel |
- Vera, Cecilia |
- Carvallo, Pablo |
- Pérez Caldentey, Esteban
- Serie:
- Published in:
- CEPAL Review
- No.
- 112
- Date Issued:
- 2014-04
- Physical Description
- p. 7-28; grafs., tabls.
- UN symbol:
- handle
This paper analyses the viability, implications and challenges of expanding the Latin American Reserve Fund (FLAR) to Argentina, Brazil, Chile, Mexico and Paraguay. A regional reserve fund should be viewed as one of a broad range of mechanisms offered by the international financial architecture to ... -
Un fondo de reservas regional para América Latina
- Author(s):
- Titelman Kardonsky, Daniel |
- Vera, Cecilia |
- Carvallo, Pablo |
- Pérez Caldentey, Esteban
- Serie:
- Published in:
- Revista CEPAL
- No.
- 112
- Date Issued:
- 2014-04
- Physical Description
- p. 7-29; grafs., tabls.
- UN symbol:
- handle
En este documento se analiza la viabilidad, las implicancias y los desafíos de ampliar el Fondo Latinoamericano de Reservas (FLAR) a la Argentina, el Brasil, Chile, México y el Paraguay. Se argumenta que un fondo regional de reservas debe concebirse como parte de una red amplia de mecanismos aporta... -
Política monetaria y cambiaria asimétrica en países latinoamericanos que usan metas de inflación
- Author(s):
- Libman, Emiliano
- Serie:
- Published in:
- Revista CEPAL
- No.
- 125
- Date Issued:
- 2018-08
- Physical Description
- p. 29-46; grafs., tabls.
- UN symbol:
- handle
En los últimos decenios, en los países de América Latina se han adoptado regímenes cambiarios más flexibles y se han fijado metas de inflación. Varios autores sostienen que la política monetaria y cambiaria de algunos países adolece de un sesgo procíclico en virtud del cual los bancos centrales son... -
Ciclos económicos, expectativas e inflación en el Brasil: análisis a partir de la curva de Phillips neokeynesiana
- Author(s):
- Arruda, Elano Ferreira |
- Oliveira de Olivindo, Maria Thalita Arruda |
- Castelar, Ivan
- Serie:
- Published in:
- Revista CEPAL
- No.
- 124
- Date Issued:
- 2018-04
- Physical Description
- p. 155-171; grafs., tabls.
- UN symbol:
- handle
En este estudio se analiza la dinámica reciente de la inflación brasileña considerando distintas hipótesis de expectativas para observar la manera en que un posible comportamiento discrecional de la autoridad monetaria puede interferir en las expectativas con miras al futuro de los agentes y la for... -
Beyond capital controls: regulation of foreign currency derivatives markets in the Republic of Korea and Brazil after the global financial crisis
- Author(s):
- Prates, Daniela Magalhães |
- Fritz, Barbara
- Serie:
- Published in:
- CEPAL Review
- No.
- 118
- Date Issued:
- 2016-04
- Physical Description
- p. 183-201; grafs., tabls.
- UN symbol:
- handle
Within the management of capital flows, some emerging economies have been facing economic policy dilemmas after the global financial crisis, related to financial instrument operations, in a context of abundant liquidity in the advanced economies. However, neither the academic literature nor the fin... -
Un modelo estructuralista-keynesiano de determinación del tipo cambio real “óptimo” para el desarrollo económico brasileño: 1999-2015
- Author(s):
- Nassif, André |
- Feijó, Carmen Aparecida |
- Araújo, Eliane
- Serie:
- Published in:
- Revista CEPAL
- No.
- 123
- Date Issued:
- 2017-12
- Physical Description
- p. 201-223; diagrs., grafs., tabls.
- UN symbol:
- handle
El tipo de cambio real “óptimo” a largo plazo es aquel que, al redirigir eficientemente los recursos productivos hacia los sectores generadores y difusores de incrementos de productividad para la economía en general, tiende a acelerar y sostener el desarrollo económico. A diferencia de los modelos ... -
Crecimiento económico y desarrollo financiero en el Brasil: investigación a partir del modelo de regresión flexible
- Author(s):
- Pessoa, Filipe de Morais Cangussu |
- Braga, Marcelo José |
- Morais, Gabriel Alves de Sampaio
- Serie:
- Published in:
- Revista CEPAL
- No.
- 128
- Date Issued:
- 2019-08-26
- Physical Description
- p.101-123; grafs., maps., tabls.
- UN symbol:
- handle
En el presente trabajo se investiga la relación entre crecimiento económico y desarrollo financiero en el Brasil. Para ello, se construye un panel de todos los estados brasileños relativo al período 1995-2014, con variables de control apropiadas y variables sustitutivas para el crecimiento económic... -
Economic growth and financial development in Brazil: a flexible regression model approach
- Author(s):
- Pessoa, Filipe de Morais Cangussu |
- Braga, Marcelo José
- Serie:
- Published in:
- CEPAL Review
- No.
- 128
- Date Issued:
- 2019-08-26
- Physical Description
- p.91-112; grafs., maps., tabls.
- UN symbol:
- handle
This paper examines the relationship between economic growth and financial development in Brazil. To this end, a data panel is constructed of all the Brazilian states for the period 1995–2014, with appropriate control variables and proxies for economic growth and financial development. The relation...