Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados
Autor(a) principal: | |
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Data de Publicação: | 2007 |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572007000300007 |
Resumo: | After surpassed more than half a decade since the adoption of inflation targeting in Brazil, it can be seen that maintaining a high interest rate is inherent to the strategy for the conduction of the monetary policy. The objective of this paper is to show that the present policy for defining the basic interest rate of the economy, based on the response to inflation considering both market and administered prices, is onerous for the Brazilian society. Based on findings from empirical evidence in the period 1999-2004, the adoption of a core inflation, a change in the time horizon for definition of targets, and, in common agreement between Banco Central do Brasil and National Treasury, a definition of these inflation targets, as a framework to increase efficiency of the monetary regime, creates possibilities for proposing a reduction on the Selic rate. |
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Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administradosinterest ratemarket pricesadministrative pricesinflationexchangeAfter surpassed more than half a decade since the adoption of inflation targeting in Brazil, it can be seen that maintaining a high interest rate is inherent to the strategy for the conduction of the monetary policy. The objective of this paper is to show that the present policy for defining the basic interest rate of the economy, based on the response to inflation considering both market and administered prices, is onerous for the Brazilian society. Based on findings from empirical evidence in the period 1999-2004, the adoption of a core inflation, a change in the time horizon for definition of targets, and, in common agreement between Banco Central do Brasil and National Treasury, a definition of these inflation targets, as a framework to increase efficiency of the monetary regime, creates possibilities for proposing a reduction on the Selic rate.Centro de Economia Política2007-09-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572007000300007Brazilian Journal of Political Economy v.27 n.3 2007reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/S0101-31572007000300007info:eu-repo/semantics/openAccessMendonça,Helder Ferreira depor2007-09-14T00:00:00Zoai:scielo:S0101-31572007000300007Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2007-09-14T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
title |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
spellingShingle |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados Mendonça,Helder Ferreira de interest rate market prices administrative prices inflation exchange |
title_short |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
title_full |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
title_fullStr |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
title_full_unstemmed |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
title_sort |
Metas para inflação e taxa de juros no Brasil: uma análise do efeito dos preços livres e administrados |
author |
Mendonça,Helder Ferreira de |
author_facet |
Mendonça,Helder Ferreira de |
author_role |
author |
dc.contributor.author.fl_str_mv |
Mendonça,Helder Ferreira de |
dc.subject.por.fl_str_mv |
interest rate market prices administrative prices inflation exchange |
topic |
interest rate market prices administrative prices inflation exchange |
description |
After surpassed more than half a decade since the adoption of inflation targeting in Brazil, it can be seen that maintaining a high interest rate is inherent to the strategy for the conduction of the monetary policy. The objective of this paper is to show that the present policy for defining the basic interest rate of the economy, based on the response to inflation considering both market and administered prices, is onerous for the Brazilian society. Based on findings from empirical evidence in the period 1999-2004, the adoption of a core inflation, a change in the time horizon for definition of targets, and, in common agreement between Banco Central do Brasil and National Treasury, a definition of these inflation targets, as a framework to increase efficiency of the monetary regime, creates possibilities for proposing a reduction on the Selic rate. |
publishDate |
2007 |
dc.date.none.fl_str_mv |
2007-09-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572007000300007 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572007000300007 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
10.1590/S0101-31572007000300007 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.27 n.3 2007 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
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1754122480395485184 |