[PDF] Top 20 The Effects of Fiscal Policy and its Interactions with Monetary Policy in Brazil

... Over the last years there has been a growing interest on graphical models and in particular on those based on DAGs as a general framework to describe and infer causal relations, exploring ... See full document

... affects monetary policy in the Blanchard-Yaari framework with sticky ...robustness and stronger wealth effects imply more aggres- sive policy responses to cost ... See full document

... regarding the validity of the adverse effects of a high- interest monetary policy on country risk, since the variable JUR is normally insignif- icant or positive ... See full document

... approach in the case of data for new loans. Beyond the decline of the interest rate, macroeconomic stability in Brazil opened the door for a credit ... See full document

... size of the debt-output ...because, in spite of the small impact of the shocks, the fiscal policy instruments that specialize in the ... See full document

... (SI). In case an SI is owned by another same-country SI, then data is downloaded for the ...Oftentimes, the SSM defines the holding company as the SI, and not the bank ... See full document

... severe policy dilemma posed by a declining equilibrium real rate of ...interest. In the presence of such a phenomenon, a central bank has two ...options. The first one is to ... See full document

... Based on three versions of a small macroeconomic model for Brazil, this paper presents empirical evidence on the effects of parameter uncertainty on monetary policy rules and on the [r] ... See full document

... lending, and firm balance sheets. In this way, the central bank’s monetary policy decisions are being distributed in the economy, affecting characteristics like ... See full document

... Despite the apparent unanimity among empiricists and econometricians, not everyone is so sanguine about ...simulate the Federal Reserve second Large-Scale Asset Purchase program (QE2) in a ... See full document

... To the best of my knowledge, this is the first study using the FAVAR approach to explore the credit channel of the monetary policy transmission mechanism for ... See full document

... types of policies can be taken into ...permanent and temporary policy changes. In the …rst case, given one of the three types of di¤usion processes discussed ... See full document

... At the origin of unfulfillment of the inflation target proposed by the NBR lies the accelerate growth of food raw materials prices and oil prices on the ... See full document

... defeating the sovereign crisis, the ...performance, in a context of general deleveraging and decreasing bank ...lending. In the last months of 2013, loans to ... See full document

... on the basis of previous period output and current ...to the monetary-scal optimization framework of Leith and Wren-Lewis (2013), that builds on the work of ... See full document

... is, in the absence of a fiscal crisis, an increase of government spending crowds out private consumption because of an expectation of higher future taxes and an ... See full document

... absorb and incorporate all the available information at their disposal in real-time, meaning that there are no information rigidities, thus a release of new information will cause a ... See full document

... assess the effects of asset purchase programs on real macro- economic variables using VAR or DSGE ...episodes and countries so that results are not always comparable. Nonetheless, the ... See full document

... on the bad_hist variable in columns I and II is somehow ...borrowers with recent poor recent credit history show stronger loan growth than other ...fixed effects, this is happening when ... See full document

... on the 12-month ahead horizon since it is widely used in the ...employing the panel-data setup of Gaglianone and Issler (2015), who show that optimal individual forecasts are an ... See full document