巴西的货币政策传导、生产活动和通货膨胀:不确定性重要吗?

Q1 Economics, Econometrics and Finance Journal of Economic Asymmetries Pub Date : 2023-01-01 DOI:10.1016/j.jeca.2022.e00285
Wilson Luiz Rotatori Corrêa , Luckas Sabioni Lopes
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引用次数: 0

摘要

本研究旨在评估采用通胀目标制后,不确定性对巴西货币政策结果的影响。为此,我们采用了具有内生阈值(TVAR)和四个不同指标的向量自回归方法来表征宏观经济高不确定性和低不确定性的机制。分析的样本从2003年到2021年各不相同,有月度数据。我们的研究结果表明,在该国经济衰退期间,不确定性往往会增加。此外,在不稳定程度较高的时期,政策利率冲击对总生产的影响较小。然而,不确定性的最显著影响发生在通货膨胀控制方面,与更平静的时期相比,通货膨胀控制严重减少。因此,我们得出的结论是,不确定性会损害巴西货币政策的传导,尤其是对价格的调整。
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来源期刊
Journal of Economic Asymmetries
Journal of Economic Asymmetries Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
4.80
自引率
0.00%
发文量
42
审稿时长
50 days
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