Monetary transmission in an emerging targeter : the case of Brazil /

Monetary transmission in an emerging targeter : the case of Brazil /

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Bibliographic Details
Author / Creator:Catão, Luis, author.
Imprint:Washington, D.C. : International Monetary Fund, ©2008.
Description:1 online resource (42 pages) : illustrations
Language:English
Series:IMF working paper ; WP/08/191.
Subject:
Transmission mechanism (Monetary policy) -- Brazil -- Econometric models.
Inflation (Finance) -- Brazil -- Econometric models.
Monetary policy -- Brazil -- Econometric models.
Inflation (Finance) -- Econometric models.
Monetary policy -- Econometric models.
Brazil.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12499650
Hidden Bibliographic Details
Other authors / contributors:Laxton, Douglas, author.
Pagan, A. R., author.
International Monetary Fund. Research Department.
ISBN:1462375979
9781462375974
1452778345
9781452778341
9786612841422
6612841427
1282841424
9781282841420
1451870493
9781451870497
Notes:At head of title: Research Department.
"August 2008."
Includes bibliographical references (pages 26-29).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper lays out a structural model that incorporates key features of monetary transmission in typical emerging-market economies, including a bank-credit channel and the role of external debt accumulation on country risk premia and exchange rate dynamics. We use an SVAR representation of the model to study the monetary transmission in Brazil. We find that interest rate changes have swifter effects on output ande inflation compared to advanced economies and that exchange rate dynamics plays a key role in this connection. Importantly, the response to monetary policy shocks has grown stronger and the output-inflation tradeoff improved since the introduction of inflation targeting.
Other form:Print version: Catão, Luis. Monetary transmission in an emerging targeter. Washington, D.C. : International Monetary Fund, ©2008

MARC

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100 1 |a Catão, Luis,  |e author.  |0 http://id.loc.gov/authorities/names/no95022224 
245 1 0 |a Monetary transmission in an emerging targeter :  |b the case of Brazil /  |c prepared by Luis Catão, Douglas Laxton, and Adrian Pagan. 
260 |a Washington, D.C. :  |b International Monetary Fund,  |c ©2008. 
300 |a 1 online resource (42 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
500 |a At head of title: Research Department. 
500 |a "August 2008." 
504 |a Includes bibliographical references (pages 26-29). 
520 |a This paper lays out a structural model that incorporates key features of monetary transmission in typical emerging-market economies, including a bank-credit channel and the role of external debt accumulation on country risk premia and exchange rate dynamics. We use an SVAR representation of the model to study the monetary transmission in Brazil. We find that interest rate changes have swifter effects on output ande inflation compared to advanced economies and that exchange rate dynamics plays a key role in this connection. Importantly, the response to monetary policy shocks has grown stronger and the output-inflation tradeoff improved since the introduction of inflation targeting. 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified] :  |c HathiTrust Digital Library,  |d 2011.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2011  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
505 0 |a I. Introduction; II. Existing Evidence on Brazil; III. The Structural Model; IV. SVAR Representation; V. Producing Gap Measures; VI. The Brazilian Data Set; VII. SVAR Estimates; VIII. Conclusion; References; Appendix: Derivation of External Liability Equation; Figures; 1. Brazil: Monetary and Price Indicators; 2. Brazil: Output Indicators; 3. Brazil: External Indicators; 4. Brazil: Financial Indicators; 5. BN- and HP-filter Gaps; 6. Impulse-Responses to 100 bp Monetary Tightening, 1999q2:2:007q (in percent); 7. Impulse-Responses to 1% Credit Growth Shock, 1999q2:2007q (in percent) 
505 8 |a 8. Impulse-Responses to 100 bp Monetary Tightening with HP Gap Measures, 1999:2-2007Q (in percent)9. Impulse-Responses to 100 bp Monetary Tightening, 2001q2-2007q (in percent); 10. Impulse-Responses to 1% Credit Growth Shock, 2001q2-2007q (in percent); 11. Recursive Coefficient Estimates of Output Gap in Inflation Equation 
546 |a English. 
650 0 |a Transmission mechanism (Monetary policy)  |z Brazil  |x Econometric models. 
650 0 |a Inflation (Finance)  |z Brazil  |x Econometric models. 
650 0 |a Monetary policy  |z Brazil  |x Econometric models. 
650 6 |a Mécanismes de transmission (Politique monétaire)  |z Brésil  |x Modèles économétriques. 
650 6 |a Inflation  |z Brésil  |x Modèles économétriques. 
650 6 |a Politique monétaire  |z Brésil  |x Modèles économétriques. 
650 7 |a Inflation (Finance)  |x Econometric models.  |2 fast  |0 (OCoLC)fst00972453 
650 7 |a Monetary policy  |x Econometric models.  |2 fast  |0 (OCoLC)fst01025234 
651 7 |a Brazil.  |2 fast  |0 (OCoLC)fst01206830 
650 7 |a Transmissionsmechanismus.  |2 stw 
650 7 |a Inflation Targeting.  |2 stw 
650 7 |a Brasilien.  |2 stw 
655 4 |a Electronic books. 
700 1 |a Laxton, Douglas,  |e author.  |0 http://id.loc.gov/authorities/names/no92032009 
700 1 |a Pagan, A. R.,  |e author.  |0 http://id.loc.gov/authorities/names/n81066977 
710 2 |a International Monetary Fund.  |b Research Department.  |0 http://id.loc.gov/authorities/names/n77001219 
776 0 8 |i Print version:  |a Catão, Luis.  |t Monetary transmission in an emerging targeter.  |d Washington, D.C. : International Monetary Fund, ©2008  |w (OCoLC)316327473 
830 0 |a IMF working paper ;  |v WP/08/191.  |0 http://id.loc.gov/authorities/names/no89010263 
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