Time Varying Neutral Interest Rate The Case of Brazil is popular PDF and ePub book, written by Mr.Roberto Perrelli in 2014-05-12, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Time Varying Neutral Interest Rate The Case of Brazil can be Read Online from any device for your convenience.
Time Varying Neutral Interest Rate The Case of Brazil Book PDF Summary
Emerging markets have experienced a sizeable decline in their neutral real interest rates until recently. In this paper we try to identify the main factors that contributed to it, with a focus on Brazil. We estimate an interval for Brazil’s time-varying neutral rate based on a range of structural and econometric models. We assess the implications of incorrectly estimating a time-varying neutral rate using a small structural model with a simple monetary policy instrument rule. We find that policy prescriptions are very different when facing uncertainty of neutral rate and of output gap. Our result contrasts sharply with Orphanides (2002), suggesting that the best response to neutral rate uncertainty is to ensure policy remains highly sensitive to inflation and output variations.
Detail Book of Time Varying Neutral Interest Rate The Case of Brazil PDF
- Author : Mr.Roberto Perrelli
- Release : 12 May 2014
- Publisher : International Monetary Fund
- ISBN : 9781484385210
- Genre : Business & Economics
- Total Page : 32 pages
- Language : English
- PDF File Size : 21,7 Mb
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