Liberalização da conta de capitais e inflação: a experiência brasileira no período pós-real

Content Provider	Semantic Scholar
Author	Mendonça, Helder Ferreira De Pires, M. C.
Copyright Year	2005
Abstract	In the 1990s the idea that capital account liberalization represented a mechanism for disciplining the conduction of the monetary policy in the search for price stability was developed. Based on this argument, a new version of Gruben e McLeod's (2001) model applying a dynamic public debt constraint to the monetary authority's utility function is made. Furthermore, an empirical analysis (through application of VAR) was made for the Brazilian case with the objective of evaluating if the increase in the capital account liberalization after the introduction of the Real Plan contributed to price stability. The findings denote that a decrease in the capital account liberalization is capable of attenuating inflationary pressure and that the duration of this effect depends on the exchange regime used.
File Format	PDF HTM / HTML
DOI	10.1590/S0101-41612006000100007
Alternate Webpage(s)	http://repositorio.ipea.gov.br/bitstream/11058/1807/1/TD_1121.pdf
Alternate Webpage(s)	https://doi.org/10.1590/S0101-41612006000100007
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article