Política monetária brasileira pré-crise de 2008uma análise da possível influência dos juros americanos e de outros fatores externos

Resumo

In this paper, an analysis of the Brazilian monetary policy from 2000 to 2008 is made in order to understand how independent it was from actions of the Federal Reserve. The importance of this understanding lies in the impending rising movement of US interest rates, although still without a specific date, but which can bring consequences to the foreign exchange and domestic interest rates at a time when there is already an ongoing monetary tightening in the country. Besides, the effects of other variables linked to external situations as crisis events, exchange rate and country risk in Brazilian interest rate are also taken into consideration. The results indicate that, during the study period, the national monetary policy was marked by greater autonomy relatively to fluctuations on the American interest rates, which may have been helped by the adoption in 1999 of floating exchange rates.

Ficha do documento

Tipo

Dissertação

Ano

2015

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Não informado

Identificador

oai:repositorio.fgv.br:10438/13997

Temas

Economia

Palavras-chave

American interest rate influenceBrazilian economyEconomic crisesInfluência juros americanosEconomia brasileiraFedEconomiaPolítica monetária - BrasilTaxas de jurosCrise econômica - 2008-2009Bancos de reserva federal