Name: BRUNO CAMPANHA SCARDINI
Publication date: 22/12/2017
Examining board:
Name |
Role |
|---|---|
| EDSON ZAMBON MONTE | Internal Examiner * |
| LUIZ CLAUDIO LOUZADA | External Examiner * |
| ROBSON ANTONIO GRASSI | Internal Examiner * |
Summary: This study is based on the econometric estimation of a Phillips curve for the Brazilian economy, emphasizing the new determination of Brazilian inflation after the stabilization of the inflation targeting regime from January 2005 to December 2015 through the use of regressions by OLS with the objective of capturing any changes in the determination of inflation during the period studied. At first, a brief historical introduction is made regarding the theoretical evolution of the Phillips curve. In sequence, a review of the literature on the theoretical formulation of the New Keynesian modeling is carried out, and soon afterwards a survey of the empirical literature that tests the determinants of the inflation of Brazil is made. Soon after, the explanation of the database and its theoretical placement in the Phillips curve was carried out as well as the estimation of the models. The empirical results obtained in this paper point to a high inflation inertia as well as a change in the trade-off between unemployment and inflation, suggesting that the BCB should be more cautious in using this channel to control the general level of prices.
