1. Um estudo sobre os impactos da surpresa da polítca monetária na atividade econômica brasileira / A study on the impacts of the surprise of monetary policy in the Brazilian economic activity

This work studies the impacts of the monetary policy in the real variables of the Brazilian economy. It will be tested the unanticipated movements of the monetary policy in the economic activity and unemployment according whit the Neoclassical and new Keynesians models, which the importance the real variables is the unanticipated component of the monetary po

Publicado em: 2006

2. MONETARY POLICY AND INVESTMENT IN BRAZIL / POLÍTICA MONETÁRIA E INVESTIMENTO NO BRASIL

The objective of monetary policy under the inflation target regime is to keep inflation and output at levels that foster a stable economic environment. To reach its objective, the monetary authority uses a policy instrument (such as the overnight interest rate) to achieve the inflation and output targets through the transmission mechanism. However, the trans

Publicado em: 2007

3. DESENVOLVIMENTO FINANCEIRO E POTÊNCIA DE POLÍTICA MONETÁRIA: UMA ABORDAGEM CROSS-COUNTRY / FINANCIAL DEVELOPMENT AND POWER OF MONETARY POLICY: A CROSSCOUNTRY STUDY

The liberalization of capital markets of the last two decades allowed for the development of financial markets in many countries. The monetary authority is interested if these changes affect its ability to reach its objectives (maintain inflation and output at levels that foster a stable economic environment) through the policy instrument (usually the overni

Publicado em: 2007

4. ESTUDANDO FLUTUAÇÕES DA POTÊNCIA DA POLÍTICA MONETÁRIA / STUDYING FLUCTUATIONS IN THE POTENCY OF MONETARY POLICY

Monetary policy in Brazil has been working, since 1999, under an inflation targeting regime, in which interest rates are the main instruments in achieving the targets. This dissertation studies the effect of monetary policy on the economy`s output and reasons for its fluctuations, through the estimation of an IS curve for Brazil. We find a significant effect

Publicado em: 2007

5. Monetary policy and the cross-section of stock returns: a FAVAR approach

We use a factor-augmented vector autoregression (FAVAR) to estimate the impact of monetary policy shocks on the cross-section of stock returns. Our FAVAR combines unobserved factors extracted from a large set of nancial and macroeconomic indicators with the Federal Funds rate. We nd that monetary policy shocks have heterogeneous e ects on the crosssection

Publicado em: 28/05/2012

6. MONETARY POLICY DILEMMA IN AN ECONOMY WITH PARTIAL DOLARIZATION / DILEMA DE POLÍTICA MONETÁRIA NUMA ECONOMIA PARCIALMENTE DOLARIZADA

This study analyses if there is monetary policy dilemma in an economy with partial dolarization. Dolarization occurs when foreign money has the three classical functions of money: mean of trade, store of value and unity of account. We will study an economy with partial dolarization, i.e., only part of economy uses the foreign money on transactions. The main

Publicado em: 2003

7. A Política Monetária Recente - Alguns Aspectos Teóricos / Recent Monetary Policy - Some Theoretical Aspects

This research aims to present an overview of the present practices of monetary policy, known as simple monetary rules and inflation targeting . It will discuss the historical context in which this framework first appeared., and its implication specially that the monetary supply is endogenous.. The endogenerty hypothesis is the same one that some economist

Publicado em: 24/11/2005

8. A Construção de Autoridade Monetária e Democracia: A Experiência Brasileira no Contexto da Integração Econômica em Escala Global / The Construction of Monetary Authority and Democracy: The Brazilian Experience in the Context of Global Economic Integration

This report presents the first results of research conducted as member of a group of political scientists focusing on monetary policy and democracy in Brazil (A construção de autoridade monetária e democracia: A experiência brasileira no contexto da integração econômica em escala global, FAPESP Processo no 2001/05568-8). Progress during this first sem

Publicado em: 24/11/2005

9. A note on inflation targeting and economic growth in Brazil

This paper analyzes the relation between monetary policy and economic performance in Brazil during the period 1999-2006. In particular, it discusses the growth effects of the inflation targeting regime through its effects on aggregate demand. It is argued that monetary policy under IT reacts in a procyclical and asymmetric way to fluctuations in economic act

Brazilian Journal of Political Economy. Publicado em: 2010-03

10. APPLICATION OF THE RULE OF TAYLOR TO THE REGIMEN OF INFLATION GOALS / APLICAÃÃO DA REGRA DE TAYLOR AO REGIME DE METAS DE INFLAÃÃO

The objective of this work is to analyze the main characteristics of Exchange Market and Monetary Targeting and the preconditions for the implementation and realization of the Regimen of Inflationâs targeting. It presents the use of the Rule of Taylor in the conduction of the monetary politics in the context of the Regimen of inflation targeting. The implan

Publicado em: 2004

11. Uma contribuição ao debate em torno da eficácia da política monetária e algumas implicações para o caso do Brasil

A contribution to the debate on the efficacy of monetary policy and some implications in the case of Brazil. The main opposition between Keynesian and Classic monetary theories is defined by the former's proposition of money non-neutrality in the long period. According to Keynes, it is not possible to describe a monetary economy's long period position withou

Brazilian Journal of Political Economy. Publicado em: 2005-12

12. O CANAL DE RENDA DO TRABALHO COMO MECANISMO DE TRANSMISSÃO DA POLÍTICA MONETÁRIA / THE WORK INCOME CHANNEL AS A TRANSMISSION MECHANISM OF MONETARY POLICY

The GDP answer to monetary policy stimulus is characterized by heterogeneity among different sectors, in terms of intensity and duration. Furthermore, durable goods producer tend to present a faster and intense response while the non durable producer use to react with bigger lags and in a softer way. A conventional lecture assign those differences to a more

Publicado em: 2005