Inflation persistence in Brazil : a cross country comparison /

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Bibliographic Details
Author / Creator:Roache, Shaun K., author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2014.
Description:1 online resource (22 pages)
Language:English
Series:IMF working paper ; WP/14/55
IMF working paper ; WP/14/55.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12503626
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Western Hemisphere Department, issuing body.
Notes:At head of title: Western Hemisphere Department.
"April 2014."
Includes bibliographical references.
Online resource; title from pdf title page (IMF.org Web site, viewed Apr. 14, 2014).
Summary:"Inflation persistence is sometimes defined as the tendency for price shocks to push the inflation rate away from its steady state--including an inflation target--for a prolonged period. Persistence is important because it affects the output costs of lowering inflation back to the target, often described as the "sacrifice ratio'. In this paper I use inflation expectations to provide a comparison of inflation persistence in Brazil with a sample of inflation targeting (IT) countries. This approach suggests that inflation persistence increased in Brazil through early 2013, in contrast to many of its IT peers, mainly due to "upward" persistence. The 2013 rate hiking cycle may have contributed to some recent decline in persistence"--Abstract.

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245 1 0 |a Inflation persistence in Brazil :  |b a cross country comparison /  |c prepared by Shaun K. Roache. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2014. 
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490 1 |a IMF working paper ;  |v WP/14/55 
500 |a At head of title: Western Hemisphere Department. 
500 |a "April 2014." 
504 |a Includes bibliographical references. 
520 |a "Inflation persistence is sometimes defined as the tendency for price shocks to push the inflation rate away from its steady state--including an inflation target--for a prolonged period. Persistence is important because it affects the output costs of lowering inflation back to the target, often described as the "sacrifice ratio'. In this paper I use inflation expectations to provide a comparison of inflation persistence in Brazil with a sample of inflation targeting (IT) countries. This approach suggests that inflation persistence increased in Brazil through early 2013, in contrast to many of its IT peers, mainly due to "upward" persistence. The 2013 rate hiking cycle may have contributed to some recent decline in persistence"--Abstract. 
588 0 |a Online resource; title from pdf title page (IMF.org Web site, viewed Apr. 14, 2014). 
505 0 |a Cover; Inflation Persistence in Brazil -- A Cross Country Comparison; I. INTRODUCTION; II. BACKWARD-LOOKING PERSISTENCE; A. Data; B. Unit Root Tests; C. First-Order Autocorrelations; D. Rolling Regressions; E. Output Growth as the Driving Process; III. FORWARD LOOKING PERSISTENCE; A. Data; B. Inflation Expectations as Forecasters; C. Forward-Looking Persistence Using Expectations; IV. CONCLUSION; REFERENCES. 
650 0 |a Inflation (Finance)  |z Brazil  |x Econometric models. 
650 0 |a Inflation targeting  |z Brazil  |x Econometric models. 
650 0 |a Monetary policy  |z Brazil  |x Econometric models. 
650 6 |a Inflation  |z Brésil  |x Modèles économétriques. 
650 6 |a Ciblage d'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 
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710 2 |a International Monetary Fund.  |b Western Hemisphere Department,  |e issuing body. 
830 0 |a IMF working paper ;  |v WP/14/55. 
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