INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN

Detalhes bibliográficos
Autor(a) principal: Pereira, Hugo Carcanholo Iasco
Data de Publicação: 2018
Outros Autores: Souza, Michel Cândido de
Tipo de documento: Artigo
Idioma: por
Título da fonte: Análise Econômica (Online)
Texto Completo: https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750
Resumo: The objective of the present study was to investigate the relationship between inflation and price volatility and the presence of nominal rigidity for the Brazilian economy after the adoption of the Real Plan (from July 1994 to May 2016). The relative price volatility thereunto was calculated for the 11 capitals considered by the National Wide Consumer Price Index (IPCA). The post-Real period until 2016 was divided into three periods according to the identified macroeconomic specificities. The results of the estimations suggested that there is a positive relation between the inflation and relative price volatility. In addition, the estimates showed that: a) intensity of this relation was systematically reduced after the Plan Real; b) the adoption of the inflation targeting contributed to the reduction of relative price volatility; c) there is no evidence of nominal rigidities in the three sub periods, but there is in the all period.
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spelling INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLANINFLAÇÃO E VOLATILIDADE DE PREÇOS RELATIVOS: EVIDÊNCIAS DE PAINÉIS LONGOS E PAINEL DE VETORES AUTOREGRESSIVOS PARA A ECONOMIA BRASILEIRA PÓS-PLANO REALInflaçãoVolatilidade de preços relativosPainéis econométricosC23C33E31InflationRelative price volatilityEconometric panelC23C33E31The objective of the present study was to investigate the relationship between inflation and price volatility and the presence of nominal rigidity for the Brazilian economy after the adoption of the Real Plan (from July 1994 to May 2016). The relative price volatility thereunto was calculated for the 11 capitals considered by the National Wide Consumer Price Index (IPCA). The post-Real period until 2016 was divided into three periods according to the identified macroeconomic specificities. The results of the estimations suggested that there is a positive relation between the inflation and relative price volatility. In addition, the estimates showed that: a) intensity of this relation was systematically reduced after the Plan Real; b) the adoption of the inflation targeting contributed to the reduction of relative price volatility; c) there is no evidence of nominal rigidities in the three sub periods, but there is in the all period.O objetivo do presente trabalho é investigar a relação entre inflação e volatilidade de preços e a presença de rigidez nominal para a economia brasileira após a adoção do Plano Real (julho de 1994 a maio de 2016). Para isso, calcula-se a volatilidade de preços relativos para as 11 capitais consideradas pelo IPCA e divide-se o período pós-Real até 2016 em três subperíodos, de acordo com as especificidades macroeconômicas identificadas. Os resultados das estimações sugerem que existe uma relação positiva entre a variação do nível de preços e a volatilidade de preços relativos da economia brasileira. Ademais, as estimações mostram que: a) a intensidade dessa relação se reduziu sistematicamente após o Plano Real; b) a adoção do sistema de metas de inflação contribuiu para a redução da volatilidade de preços relativos; e c) não há evidência de rigidez nominal para os três subperíodos, mas há evidência para o período todo.UFRGS2018-11-25info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/7075010.22456/2176-5456.70750Análise Econômica; Vol. 36 No. 71 (2018): setembro de 2018Análise Econômica; v. 36 n. 71 (2018): setembro de 20182176-54560102-9924reponame:Análise Econômica (Online)instname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSporhttps://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750/50832Copyright (c) 2019 Análise Econômicainfo:eu-repo/semantics/openAccessPereira, Hugo Carcanholo IascoSouza, Michel Cândido de2018-11-30T19:53:19Zoai:seer.ufrgs.br:article/70750Revistahttps://seer.ufrgs.br/index.php/AnaliseEconomicaPUBhttps://seer.ufrgs.br/index.php/AnaliseEconomica/oai||rae@ufrgs.br2176-54560102-9924opendoar:2018-11-30T19:53:19Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.none.fl_str_mv INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
INFLAÇÃO E VOLATILIDADE DE PREÇOS RELATIVOS: EVIDÊNCIAS DE PAINÉIS LONGOS E PAINEL DE VETORES AUTOREGRESSIVOS PARA A ECONOMIA BRASILEIRA PÓS-PLANO REAL
title INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
spellingShingle INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
Pereira, Hugo Carcanholo Iasco
Inflação
Volatilidade de preços relativos
Painéis econométricos
C23
C33
E31
Inflation
Relative price volatility
Econometric panel
C23
C33
E31
title_short INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
title_full INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
title_fullStr INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
title_full_unstemmed INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
title_sort INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
author Pereira, Hugo Carcanholo Iasco
author_facet Pereira, Hugo Carcanholo Iasco
Souza, Michel Cândido de
author_role author
author2 Souza, Michel Cândido de
author2_role author
dc.contributor.author.fl_str_mv Pereira, Hugo Carcanholo Iasco
Souza, Michel Cândido de
dc.subject.por.fl_str_mv Inflação
Volatilidade de preços relativos
Painéis econométricos
C23
C33
E31
Inflation
Relative price volatility
Econometric panel
C23
C33
E31
topic Inflação
Volatilidade de preços relativos
Painéis econométricos
C23
C33
E31
Inflation
Relative price volatility
Econometric panel
C23
C33
E31
description The objective of the present study was to investigate the relationship between inflation and price volatility and the presence of nominal rigidity for the Brazilian economy after the adoption of the Real Plan (from July 1994 to May 2016). The relative price volatility thereunto was calculated for the 11 capitals considered by the National Wide Consumer Price Index (IPCA). The post-Real period until 2016 was divided into three periods according to the identified macroeconomic specificities. The results of the estimations suggested that there is a positive relation between the inflation and relative price volatility. In addition, the estimates showed that: a) intensity of this relation was systematically reduced after the Plan Real; b) the adoption of the inflation targeting contributed to the reduction of relative price volatility; c) there is no evidence of nominal rigidities in the three sub periods, but there is in the all period.
publishDate 2018
dc.date.none.fl_str_mv 2018-11-25
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750
10.22456/2176-5456.70750
url https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750
identifier_str_mv 10.22456/2176-5456.70750
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750/50832
dc.rights.driver.fl_str_mv Copyright (c) 2019 Análise Econômica
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2019 Análise Econômica
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv UFRGS
publisher.none.fl_str_mv UFRGS
dc.source.none.fl_str_mv Análise Econômica; Vol. 36 No. 71 (2018): setembro de 2018
Análise Econômica; v. 36 n. 71 (2018): setembro de 2018
2176-5456
0102-9924
reponame:Análise Econômica (Online)
instname:Universidade Federal do Rio Grande do Sul (UFRGS)
instacron:UFRGS
instname_str Universidade Federal do Rio Grande do Sul (UFRGS)
instacron_str UFRGS
institution UFRGS
reponame_str Análise Econômica (Online)
collection Análise Econômica (Online)
repository.name.fl_str_mv Análise Econômica (Online) - Universidade Federal do Rio Grande do Sul (UFRGS)
repository.mail.fl_str_mv ||rae@ufrgs.br
_version_ 1799766268012658688

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