THE MONETARY POLICY OF THE BRAZILIAN CENTRAL BANK UNDER THE PRESIDENCY OF HENRIQUE MEIRELLES

Authors

  • Adonias Evaristo da Costa Filho

DOI:

https://doi.org/10.22456/2176-5456.33079

Keywords:

Monetary policy, Interest rate, Taylor Rule

Abstract

This paper estimates a Taylor Rule for the period 2003-2010, when Henrique Meirelles was the chairman of Brazilian Central Bank. In contrast with previous research, data frequency is based on Monetary Policy Committee meetings (COPOM), better reflecting the information set available for the monetary authority. The results indicate a strict inflation target behavior, with strong response to inflation expectations, and a minor but relevant role for the output gap for monetary policy decisions.

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Published

2013-09-06

How to Cite

Costa Filho, A. E. da. (2013). THE MONETARY POLICY OF THE BRAZILIAN CENTRAL BANK UNDER THE PRESIDENCY OF HENRIQUE MEIRELLES. Análise Econômica, 31(60). https://doi.org/10.22456/2176-5456.33079

Issue

Vol. 31 No. 60 (2013): setembro de 2013

Section

Artigos

License

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