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...

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...

The development of the process for liberalization and integration of the domestic markets on relation to the international markets along the last decades and the increasing volatility of capital flows resulted in the necessity of a higher coordination between fiscal and monetary policies. After...

Com o presente artigo procurou-se fazer uma súmula dos principais canais de transmissão da política monetária. São discutidas as implicações da presença dos canais de transmissão na condução da política monetária pelo banco central. Palavras chave: Canais de transmissão monetária,...

Com o presente artigo, tecem-se alguns considerandos sobre o método de avaliação da admissibilidade teórica do canal do crédito, baseando-nos na sua decomposição em condição de existência e condição de eficácia.

Com o presente artigo procurou-se fazer uma descrição do canal do crédito e avaliar as suas implicações na condução da política monetária

Asset price fluctuations: comparing rational speculative bubbles and the keynesian approach The principal aim of this paper is to analyze the limits of the conventional approach to speculative rational bubbles as an explanation for price fluctuations in financial assets. It is argued that the...

El modelo de valoración de activos basado en el consumo, CCAPM, ha sido objeto de estudio para distintas economías, dando lugar a diversas anomalías empíricas, entre ellas, el denominado enigma de la prima de riesgo. Los valores del parámetro de aversión relativa al riesgo necesarios para...

The interaction of volatility between the financial markets and gold market is analyzed. The volatility of the price of gold in euros, the price of gold in dollars, the U.S. industrial production índex, the S&p500 index, the VIX índex and the PSI20 index for a time horizon between January 1993...

The article aspires to understand the monetary policy transmission mechanisms and whether they result in the aimed effects. We define and detail these monetary policy transmission mechanisms, showing some recent changes in monetary economics. We emphasize that modern CBs use interests as their...