This article verifies the occurrence of a real estate bubble in the Brazilian economy. Overall, our results suggest the existence of a bubble in the real estate sector of the economy. The Austrian School of economics provides a solid explanation to this phenomenon, which are reinforced by...

The evaluation of forecasts performance of market expectations about the Brazilian inflation rate (Focus survey) is important given the prominent role of these expectations in the conduction of monetary policy in Brazil. Lima e Céspedes (2006) showed that, in the period 2000.1 2005.4, several...

This study aims to estimate the system of bank credit demand and supply in Brazil. Understanding how the balance is established in this market is the key to know the importance of the credit channel. Based on the aggregated data from June 2000 to August 2012 not only for firms but also for...

This paper investigates the effect of monetary and exchange rate shocks on disaggregated prices of the Brazilian Consumer Price Index (IPCA), from 1999 to 2011. We analyze the results of a factor-augmented vector autoregressive model (Favar), which are presented by different levels of...

The objective of this paper is to present the contributions of different sectors to deviations of the inflation target center from 2000 to 2013, and discuss implications for monetary policy. The contributions are measured by the Inflation Targeting deviation Contribution Index (ITCI), which is...

This text proposes three adaptations related to disaggregations in the Brazilian National Consumer Price Index (IPCA) in order to provide relevant data for studies on inflation in disaggregated cuts, in monthly periodicity from August 1999 to September 2014. In the first, the compatibilization...

Monetary policy, inflation and economic growth: the influence of the monetary authority?s reputation upon the economy The following paper aims to show that, although a monetary policy, which merely seeks to control inflation through an interest rate rule (under inflation targeting), may reach...

This paper evaluates, as proposed by Laxton and N’Diaye (2002), if the consideration of a measure of monetary policy credibility in the forecast of the Brazilian Phillips Curve, after the introduction of inflation targeting, implies an improvement. The findings denote that the use of a measure...

Este artigo tem por objetivo analisar a natureza aleatória dos índices de preços. Considerando particularmente a categoria dos Índices de Preços ao Consumidor (IPC); parte-se do conceito teórico de Índices de Custo de Vida, do qual o IPC é uma aproximação, para destacar os aspectos que...