Arbeitspapier
Uma análise da transmissão da política monetária e o canal da dívida pública com aplicação aos dados brasileiros
This paper deals with the role of the public debt on the transmission mechanism of monetary policy. An IS function where the Ricardian Equivalence does not prevail and Phillips curve are estimated by full information maximum likelihood (FIML), General Method of Moments (GMM) and bootstrap methods. The government constraint allows the analysis of two kinds of bonds: prefixed bonds and bonds indexed by monetary policy interest rate. Two additional relations are added to the model, one monetary rule and one fiscal rule. The impulse response functions presents cycles that depend heavily on the composition of the public debt.
- Language
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Portugiesisch
- Bibliographic citation
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Series: Texto para Discussão ; No. 1379
- Classification
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Wirtschaft
- Subject
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Geldpolitische Transmission
Öffentliche Schulden
Brasilien
- Event
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Geistige Schöpfung
- (who)
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Pires, Manoel Carlos de Castro
de Andrade, Joaquim Pinto
- Event
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Veröffentlichung
- (who)
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Instituto de Pesquisa Econômica Aplicada (IPEA)
- (where)
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Brasília
- (when)
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2009
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Pires, Manoel Carlos de Castro
- de Andrade, Joaquim Pinto
- Instituto de Pesquisa Econômica Aplicada (IPEA)
Time of origin
- 2009