Persistência inflacionária e curva de Phillips novo-keynesiana para o Brasil

Revista de Economia Política

Fernando De Aquino Fonseca Neto¹ 

[1] ,Banco Central do Brasil

关键词: inflation persistence;    bounded rationality;    market power;    expectations;    Phillips curves;   

DOI  :  10.1590/S0101-31572010000200008

来源: SciELO

【 摘 要 】

Inflation persistence and new Keynesian Phillips curves for Brazil. In this paper is shown that sustainable inflation persistence has theoretical support not only due price indexation, but also because of micro-foundations based on assumptions of Simon's bounded rationality and because of persistent mark-up shocks. the new keynesian phillips curve, estimated for brazil for the period 2000/2008, and the partial coefficients of determination for moving sub-periods of 36 months identifies inflation persistence as the main determinant of inflation, with the capacity gap presenting larger importance only in the end of the sample period. Inflation persistence requires harder monetary policy when neither accommodation is acceptable nor complementary policies in order to reduce it, such as the minimization of indexation mechanisms and control of the market power, are adopted.

【 授权许可】

CC BY   
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