Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil
Includes bibliography
Guardado en:
| Autor principal: | |
|---|---|
| Formato: | Texto |
| Lenguaje: | English |
| Publicado: |
2014
|
| Materias: | |
| Acceso en línea: | http://hdl.handle.net/11362/11599 |
| Etiquetas: |
Agregar Etiqueta
Sin Etiquetas, Sea el primero en etiquetar este registro!
|
| id |
oai-11362-11599 |
|---|---|
| record_format |
dspace |
| spelling |
oai-11362-115992020-03-06T16:50:27Z Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil Caldas M., Gabriel BANCOS CENTRALES COMUNICACIONES MERCADOS DE CAPITAL POLITICA MONETARIA TASAS DE INTERES INFLACION CENTRAL BANKS COMMUNICATIONS CAPITAL MARKETS MONETARY POLICY INTEREST RATES INFLATION Includes bibliography Central bank communications are important for guiding expectations. For emerging countries, however, research on this issue is scarce. Because Brazil represents an important emerging country under inflation targeting, this paper studies the influence of monetary policy and central bank communications on the term structure of interest rates in Brazil. The study uses ordinary least squares (ols), generalized method of moments (gmm) and vector autoregresion (var) to examine the direction taken by interest rates when affected by central bank communications and monetary policy. The study finds evidence that because economic agents analyse the minutes of the Monetary Policy Committee meetings, monetary policy and central bank communications significantly influence the process of expectations formation for interest rates with different maturities in Brazil. 2014-01-02T18:46:07Z 2014-01-02T18:46:07Z 2012-08 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/11599 LC/G.2536-P en CEPAL Review CEPAL Review 107 application/pdf BRASIL BRAZIL |
| institution |
Cepal |
| collection |
Cepal |
| language |
English |
| topic |
BANCOS CENTRALES COMUNICACIONES MERCADOS DE CAPITAL POLITICA MONETARIA TASAS DE INTERES INFLACION CENTRAL BANKS COMMUNICATIONS CAPITAL MARKETS MONETARY POLICY INTEREST RATES INFLATION |
| spellingShingle |
BANCOS CENTRALES COMUNICACIONES MERCADOS DE CAPITAL POLITICA MONETARIA TASAS DE INTERES INFLACION CENTRAL BANKS COMMUNICATIONS CAPITAL MARKETS MONETARY POLICY INTEREST RATES INFLATION Caldas M., Gabriel Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| description |
Includes bibliography |
| format |
Texto |
| author |
Caldas M., Gabriel |
| author_facet |
Caldas M., Gabriel |
| author_sort |
Caldas M., Gabriel |
| title |
Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| title_short |
Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| title_full |
Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| title_fullStr |
Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| title_full_unstemmed |
Financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of Brazil |
| title_sort |
financial market reaction to central bank monetary policy communications under an inflation- targeting regime: the case of brazil |
| publishDate |
2014 |
| url |
http://hdl.handle.net/11362/11599 |
| work_keys_str_mv |
AT caldasmgabriel financialmarketreactiontocentralbankmonetarypolicycommunicationsunderaninflationtargetingregimethecaseofbrazil |
| _version_ |
1718435520349995008 |