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Recursos bibliográficos en papel y digitales -
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» Resultado: 2 registros
| Registro 1 de 2 | |
| Autor: | Pinto de Andrade, Joaquim - Castro Pires, Manoel Carlos |
| Título: | Implications of public debt indexation for monetary policy transmission |
| Fuente: | Journal of Applied Economics. v.14, n.2. Universidad del CEMA |
| Páginas: | pp. 257-268 |
| Año: | Nov. 2011 |
| Resumen: | The goal of this paper is to provide a better understanding of monetary policy effectiveness in the case of indexed bonds. When public debt management deals with bonds indexed to the interest rate set by the monetary policy, there is no wealth effect and, as a consequence, monetary policy has a weak transmission channel reducing its effectiveness. This can help to explain why monetary policy in Brazil has been so tight and interest rates so high during the Real Plan. |
| Palabras clave: | DEUDA PUBLICA | POLITICA MONETARIA | INDEXACION | ADMINISTRACION | PLANIFICACION FINANCIERA | MONEDA LOCAL | MONEDA | MODELOS ECONOMICOS | FINANCIAMIENTO | |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
| Registro 2 de 2 | |
| Autor: | Divino, Jose Angelo - Teles, Vladimir Kuhl - Pinto de Andrade, Joaquim - |
| Título: | On the purchasing power parity for Latin-American countries |
| Fuente: | Journal of Applied Economics. v.12, n.1. Universidad del CEMA |
| Páginas: | pp. 33-54 |
| Año: | May 2009 |
| Resumen: | This paper tests the hypothesis of long-run purchasing power parity (PPP) for all Latin American countries. Those countries share characteristics as high inflation, nominal shocks, and trade openness which might have led to quicker adjustment in relative prices and contributed for PPP to hold. New time series unit root tests give evidence of stationary real exchange rates for the vast majority of countries. In the panel data framework, tests for the null of unit root, null of stationarity, and unit root under multiple structural breaks indicate that the pooled real exchange rate is stationary. Thus, the results provide convincing evidence that PPP holds in Latin-America in the post-1980 period. |
| Solicitar por: | HEMEROTECA J + datos de Fuente |
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