Metas de inflação, política monetária e investimento: um estudo para dezessete países

Revista de Economia Política

Luis Alberto Pelicioni¹  Marco Flávio Da Cunha Resende² 

[1] ,Banco Central do Brasil

关键词: inflation target;    monetary policy;    investment;   

DOI  :  10.1590/S0101-31572009000300005

来源: SciELO

【 摘 要 】

In this paper two hypotheses about the relationship between monetary policy and investment in the context of the inflation target system were tested. One of these hypotheses is based on the idea of neutrality of money, and the other hypothesis is based on the reject of that idea. An investment equation for seventeen economies using a piece-wise dummy variable was estimated by the Methodology of Panel Data. The results highlight that a negative correlation between current expectation of restrictive monetary policy and current investment rose after the inflation target system implementation.

【 授权许可】

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