Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is typically achieved by either excluding or downplaying the importance of the most volatile items. However, some of those items show high persistence, and one certainly does not want...

Since 2000, Banco Central do Brasil (BCB) announces measures of core inflation in its Inflation Reports. Throughout this period, the set of measures has been altered as the result of either the evolution of the Brazilian economy or the incorporation of new approaches to measuring core inflation....

The unemployment rate is one of the most closely watched economic indicators. However, it has important limitations and shortcomings as a measure of the state of the labour market. This could help to explain the fact that in traditional Phillips curves unemployment explains but a small part of...

The Focus Survey is a cunningly designed economic survey carried out by the Central Bank of Brazil. However, along its existence there have occasionally been some criticisms that its median forecast is “biased” due to allegedly strategic reasons. Although different groups of agents do have...

Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is typically achieved by either excluding or downplaying the importance of the most volatile items. However, some of those items show high persistence, and one certainly does not want...

La adopción de regímenes de metas de inflación en los últimos años por parte de un buen número de países en ALC, entre otros, ha dado un fuerte impulso a las tareas de investigación, centrado principalmente en mejorar la modelación del funcionamiento de la economía para lograr un...

We use bank-level data to model the demand for bank services in Brazil following the discrete choice literature. A multinomial logit specification is used to study the demand for time deposits, for an aggregate of demand and passbook savings deposits, and for loans. Market for each of these...