Juros, câmbio e o sistema de metas de inflação no Brasil

Detalhes bibliográficos
Autor(a) principal: Serrano,Franklin
Data de Publicação: 2010
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=S0101-31572010000100004
Resumo: Interest rate, exchange rate and the system of inflation target in Brazil. In the consensus view of the Brazilian system of inflation targeting, the core of inflation is due to demand shocks; the rate of interest is set to control demand; and some variation in the exchange rate happens as "collateral damage". In this note we argue that in reality core inflation comes from cost push; the interest rate affects the exchange rate; changes in the exchange rate affect costs and prices; it is the effect of interest rates on demand that is the "collateral damage" and that the long run anchor of the system is low average real wage rigidity.
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spelling Juros, câmbio e o sistema de metas de inflação no Brasilinterest rateexchange rate, inflation targetInterest rate, exchange rate and the system of inflation target in Brazil. In the consensus view of the Brazilian system of inflation targeting, the core of inflation is due to demand shocks; the rate of interest is set to control demand; and some variation in the exchange rate happens as "collateral damage". In this note we argue that in reality core inflation comes from cost push; the interest rate affects the exchange rate; changes in the exchange rate affect costs and prices; it is the effect of interest rates on demand that is the "collateral damage" and that the long run anchor of the system is low average real wage rigidity.Centro de Economia Política2010-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572010000100004Brazilian Journal of Political Economy v.30 n.1 2010reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/S0101-31572010000100004info:eu-repo/semantics/openAccessSerrano,Franklinpor2010-05-28T00:00:00Zoai:scielo:S0101-31572010000100004Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2010-05-28T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv Juros, câmbio e o sistema de metas de inflação no Brasil
title Juros, câmbio e o sistema de metas de inflação no Brasil
spellingShingle Juros, câmbio e o sistema de metas de inflação no Brasil
Serrano,Franklin
interest rate
exchange rate, inflation target
title_short Juros, câmbio e o sistema de metas de inflação no Brasil
title_full Juros, câmbio e o sistema de metas de inflação no Brasil
title_fullStr Juros, câmbio e o sistema de metas de inflação no Brasil
title_full_unstemmed Juros, câmbio e o sistema de metas de inflação no Brasil
title_sort Juros, câmbio e o sistema de metas de inflação no Brasil
author Serrano,Franklin
author_facet Serrano,Franklin
author_role author
dc.contributor.author.fl_str_mv Serrano,Franklin
dc.subject.por.fl_str_mv interest rate
exchange rate, inflation target
topic interest rate
exchange rate, inflation target
description Interest rate, exchange rate and the system of inflation target in Brazil. In the consensus view of the Brazilian system of inflation targeting, the core of inflation is due to demand shocks; the rate of interest is set to control demand; and some variation in the exchange rate happens as "collateral damage". In this note we argue that in reality core inflation comes from cost push; the interest rate affects the exchange rate; changes in the exchange rate affect costs and prices; it is the effect of interest rates on demand that is the "collateral damage" and that the long run anchor of the system is low average real wage rigidity.
publishDate 2010
dc.date.none.fl_str_mv 2010-03-01
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=S0101-31572010000100004
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572010000100004
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv 10.1590/S0101-31572010000100004
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.30 n.1 2010
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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