•Journal•ISSN: 0034-7140
Revista Brasileira De Economia
Fundação Getúlio Vargas
About: Revista Brasileira De Economia is an academic journal published by Fundação Getúlio Vargas. The journal publishes majorly in the area(s): Inflation & Monetary policy. It has an ISSN identifier of 0034-7140. It is also open access. Over the lifetime, 1190 publications have been published receiving 9462 citations. The journal is also known as: RBE.
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585 citations
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105 citations
TL;DR: In this paper, the authors investigate the presence of nonlinear mechanisms of pass-through from the exchange rate to inflation in Brazil and investigate whether the short-run magnitude of the passthrough is affected by the business cycle, direction and magnitude of exchange rate changes, and exchange rate volatility.
Abstract: This paper investigates the presence of nonlinear mechanisms of pass-through from the exchange rate to inflation in Brazil. In particular, it estimates a Phillips curve with a threshold for the pass-through. The paper examines whether the short-run magnitude of the pass-through is affected by the business cycle, direction and magnitude of exchange rate changes, and exchange rate volatility. The results indicate that the short-run pass-through is higher when the economy is growing faster, when the exchange rate depreciates above some threshold and when exchange rate volatility is lower.
94 citations
TL;DR: This paper presented a poverty profile for Brazil, based on three different sources of household data for 1996, using PPV consumption data to estimate poverty and indigence lines, and verified robustness of the profile with respect to different poverty lines, spatial price deflators, and equivalence scales.
Abstract: This paper presents a poverty profile for Brazil, based on three different sources of household data for 1996. We use PPV consumption data to estimate poverty and indigence lines. ''Contagem'' data is used to allow for an unprecedented refinement of the country's poverty map. Poverty measures and shares are also presented for a wide range of population subgroups, based on the PNAD 1996, with new adjustments for imputed rents and spatial differences in cost of living. Robustness of the profile is verified with respect to different poverty lines, spatial price deflators, and equivalence scales. Overall poverty incidence ranges from 23% with respect to an indigence line to 45% with respect to a more generous poverty line. More importantly, however, poverty is found to vary significantly across regions and city sizes, with rural areas, small and medium towns and the metropolitan peripheries of the North and Northeast regions being poorest.
92 citations
TL;DR: In this paper, the authors investigated monetary policy and basic macroeconomic relationships involving output, inflation rate, interest rate, and money in Brazil based on a vector autoregressive (VAR) estimation.
Abstract: This paper investigates monetary policy and basic macroeconomic relationships involving output, inflation rate, interest rate, and money in Brazil. Based on a vector autoregressive (VAR) estimation, it compares three different periods: moderately-increasing inflation (1975-1985), high inflation (1985-1994), and low inflation (1994-2000). The main results are the following: monetary policy shocks have significant effects on output; monetary policy shocks do not induce a reduction in the inflation rate in the first two periods, but there are indications that they have gained power to affect prices after the Real Plan was launched; monetary policy does not usually respond rapidly or actively to inflation-rate and output innovations; in the recent period, the interest rate responds intensely to financial crises; positive interest-rate shocks are accompanied by a decline in money in all the three periods; the degree of inflation persistence is substantially lower in the recent period.
87 citations