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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