Arbeitspapier

Preços relativos e política monetária no Brasil: Uma discussão a partir do Índice de Contribuição para o Desvio da Meta de Inflação (ICMI) e da desagregação do IPCA por natureza dos produtos

The objective of this paper is to present the contributions of different sectors to deviations of the inflation target center from 2000 to 2013, and discuss implications for monetary policy. The contributions are measured by the Inflation Targeting deviation Contribution Index (ITCI), which is an enhanced version of the index presented in Martinez and Cerqueira (2013). ITCI is applied to a disaggregation by type of product of the National Consumer Price Index (IPCA), in three levels. The observed trends, particularly the recent rise in services inflation, are discussed in the light of the new-Keynesian literature on optimal monetary policy under sectorial heterogeneity in price rigidity.

Language
Portugiesisch

Bibliographic citation
Series: Texto para Discussão ; No. 2055

Classification
Wirtschaft
Price Level; Inflation; Deflation
Monetary Policy
Incomes Policy; Price Policy
Subject
relative prices
optimal monetary policy
inflation targeting
inflation decomposition
IPCA
ITCI

Event
Geistige Schöpfung
(who)
Martinez, Thiago Sevilhano
Event
Veröffentlichung
(who)
Instituto de Pesquisa Econômica Aplicada (IPEA)
(where)
Brasília
(when)
2015

Handle
Last update
10.03.2025, 11:42 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Martinez, Thiago Sevilhano
  • Instituto de Pesquisa Econômica Aplicada (IPEA)

Time of origin

  • 2015

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