Dizioli, Allan; Wang, Hou - In: Latin American journal of central banking : LAJCB 5 (2024) 1, pp. 1-16
Phillips curves with different expectation formation processes for Brazil and the USA. Other than the standard rational … in fitting the data in Brazil. In addition, the estimation shows that expectations are more backward-looking and started … to drift away sooner in 2021 in Brazil than in the USA. We then conduct optimal policy exercises that prescribe front …