An empirical analysis of long-term Brazilian interest rates.

This paper empirically models the dynamics of Brazilian government bond (BGB) yields based on monthly macroeconomic data, in the context of the evolution of the key macroeconomic variables in Brazil. The results show that the current short-term interest rate has a decisive influence on the long-term...

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Auteurs principaux:	Tanweer Akram, Syed Al-Helal Uddin
Format:	article
Langue:	EN
Publié:	Public Library of Science (PLoS) 2021
Sujets:	Medicine R Science Q
Accès en ligne:	https://doaj.org/article/fdec82ddeb7f4e088a0fb6c19c9c75a1
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id	oai:doaj.org-article:fdec82ddeb7f4e088a0fb6c19c9c75a1
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spelling	oai:doaj.org-article:fdec82ddeb7f4e088a0fb6c19c9c75a12021-12-02T20:06:19ZAn empirical analysis of long-term Brazilian interest rates.1932-620310.1371/journal.pone.0257313https://doaj.org/article/fdec82ddeb7f4e088a0fb6c19c9c75a12021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0257313https://doaj.org/toc/1932-6203This paper empirically models the dynamics of Brazilian government bond (BGB) yields based on monthly macroeconomic data, in the context of the evolution of the key macroeconomic variables in Brazil. The results show that the current short-term interest rate has a decisive influence on the long-term interest rate on BGBs, after controlling for various key macroeconomic variables, such as inflation and industrial production. These findings support John Maynard Keynes's claim that the central bank's actions influence the long-term interest rate on government bonds mainly through the current short-term interest rate. These findings have important policy implications for Brazil. This paper relates the findings of the estimated models to ongoing debates in fiscal and monetary policies.Tanweer AkramSyed Al-Helal UddinPublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 9, p e0257313 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Tanweer Akram Syed Al-Helal Uddin An empirical analysis of long-term Brazilian interest rates.
description	This paper empirically models the dynamics of Brazilian government bond (BGB) yields based on monthly macroeconomic data, in the context of the evolution of the key macroeconomic variables in Brazil. The results show that the current short-term interest rate has a decisive influence on the long-term interest rate on BGBs, after controlling for various key macroeconomic variables, such as inflation and industrial production. These findings support John Maynard Keynes's claim that the central bank's actions influence the long-term interest rate on government bonds mainly through the current short-term interest rate. These findings have important policy implications for Brazil. This paper relates the findings of the estimated models to ongoing debates in fiscal and monetary policies.
format	article
author	Tanweer Akram Syed Al-Helal Uddin
author_facet	Tanweer Akram Syed Al-Helal Uddin
author_sort	Tanweer Akram
title	An empirical analysis of long-term Brazilian interest rates.
title_short	An empirical analysis of long-term Brazilian interest rates.
title_full	An empirical analysis of long-term Brazilian interest rates.
title_fullStr	An empirical analysis of long-term Brazilian interest rates.
title_full_unstemmed	An empirical analysis of long-term Brazilian interest rates.
title_sort	empirical analysis of long-term brazilian interest rates.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/fdec82ddeb7f4e088a0fb6c19c9c75a1
work_keys_str_mv	AT tanweerakram anempiricalanalysisoflongtermbrazilianinterestrates AT syedalhelaluddin anempiricalanalysisoflongtermbrazilianinterestrates AT tanweerakram empiricalanalysisoflongtermbrazilianinterestrates AT syedalhelaluddin empiricalanalysisoflongtermbrazilianinterestrates
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An empirical analysis of long-term Brazilian interest rates.

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