Revista: | Journal of applied economics |
Base de datos: | CLASE |
Número de sistema: | 000423816 |
ISSN: | 1667-6726 |
Autores: | Andrade, Joaquim Pinto de1 Pires, Manoel Carlos De Castro2 |
Instituciones: | 1Universidade de Brasilia, Departamento de Economia, Brasilia, Distrito Federal. Brasil 2Instituto de Pesquisa Economica Aplicada, Brasilia, Distrito Federal. Brasil |
Año: | 2011 |
Periodo: | Nov |
Volumen: | 14 |
Número: | 2 |
Paginación: | 257-268 |
País: | Argentina |
Idioma: | Inglés |
Tipo de documento: | Artículo |
Enfoque: | Analítico |
Resumen en inglés | The goal of this paper is to provide a better understanding of monetary policy effectiveness in the case of indexed bonds. When public debt management deals with bonds indexed to the interest rate set by the monetary policy, there is no wealth effect and, as a consequence, monetary policy has a weak transmission channel reducing its effectiveness. This can help to explain why monetary policy in Brazil has been so tight and interest rates so high during the Real Plan |
Disciplinas: | Economía |
Palabras clave: | Economía monetaria, Política económica, Política monetaria, Deuda pública, Bonos, Tasas de interés, Brasil |
Texto completo: | Texto completo (Ver PDF) |