Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira

Detalhes bibliográficos
Autor(a) principal: Tabak, Benjamin Miranda
Data de Publicação: 2004
Outros Autores: Tabata, Alícia
Tipo de documento: Artigo
Idioma: por
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/220256
Resumo: This paper empirically assesses the monetary policy's surprise effect over the interest rate curve, testing the impacts of COPOM's (monetary policy Committee) decisions over the interest rates curve (Swaps rates with maturity to 1, 2, 3, 6 and 12 months). The results show that the introduction of the inflation targeting regime reduced the monetary policy's surprise effect over the interest rate curve and that the agents foresee, at least partially, the monetary policy's decisions. A greater transparency in the monetary policy conduction and the adoption of the floating exchange rate regime are used to explain the results obtained.
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spelling Surpresas na política monetária e a estrutura a termo da taxa de juros brasileirainformation contentpronouncementsinterest ratesmonetary policyThis paper empirically assesses the monetary policy's surprise effect over the interest rate curve, testing the impacts of COPOM's (monetary policy Committee) decisions over the interest rates curve (Swaps rates with maturity to 1, 2, 3, 6 and 12 months). The results show that the introduction of the inflation targeting regime reduced the monetary policy's surprise effect over the interest rate curve and that the agents foresee, at least partially, the monetary policy's decisions. A greater transparency in the monetary policy conduction and the adoption of the floating exchange rate regime are used to explain the results obtained.Universidade de São Paulo, FEA-RP/USP2004-06-10info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/22025610.11606/1413-8050/ea220256Economia Aplicada; Vol. 8 Núm. 3 (2004); 384-399Economia Aplicada; Vol. 8 No. 3 (2004); 384-399Economia Aplicada; v. 8 n. 3 (2004); 384-3991980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPporhttps://www.revistas.usp.br/ecoa/article/view/220256/201136Copyright (c) 2004 Economia Aplicadahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessTabak, Benjamin Miranda Tabata, Alícia 2023-12-14T17:46:26Zoai:revistas.usp.br:article/220256Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-12-14T17:46:26Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
title Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
spellingShingle Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
Tabak, Benjamin Miranda
information content
pronouncements
interest rates
monetary policy
title_short Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
title_full Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
title_fullStr Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
title_full_unstemmed Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
title_sort Surpresas na política monetária e a estrutura a termo da taxa de juros brasileira
author Tabak, Benjamin Miranda
author_facet Tabak, Benjamin Miranda
Tabata, Alícia
author_role author
author2 Tabata, Alícia
author2_role author
dc.contributor.author.fl_str_mv Tabak, Benjamin Miranda
Tabata, Alícia
dc.subject.por.fl_str_mv information content
pronouncements
interest rates
monetary policy
topic information content
pronouncements
interest rates
monetary policy
description This paper empirically assesses the monetary policy's surprise effect over the interest rate curve, testing the impacts of COPOM's (monetary policy Committee) decisions over the interest rates curve (Swaps rates with maturity to 1, 2, 3, 6 and 12 months). The results show that the introduction of the inflation targeting regime reduced the monetary policy's surprise effect over the interest rate curve and that the agents foresee, at least partially, the monetary policy's decisions. A greater transparency in the monetary policy conduction and the adoption of the floating exchange rate regime are used to explain the results obtained.
publishDate 2004
dc.date.none.fl_str_mv 2004-06-10
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://www.revistas.usp.br/ecoa/article/view/220256
10.11606/1413-8050/ea220256
url https://www.revistas.usp.br/ecoa/article/view/220256
identifier_str_mv 10.11606/1413-8050/ea220256
dc.language.iso.fl_str_mv por
language por
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/220256/201136
dc.rights.driver.fl_str_mv Copyright (c) 2004 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2004 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 8 Núm. 3 (2004); 384-399
Economia Aplicada; Vol. 8 No. 3 (2004); 384-399
Economia Aplicada; v. 8 n. 3 (2004); 384-399
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
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