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Against the backdrop of an ongoing review of the inflation-targeting framework, this paper examines the real-time inflation forecasts of the Bank of C...
Notwithstanding persistently-high unemployment following the Great Recession, inflation in the United States has been remarkably stable. We find that ...
The Implications for Brazil
Global financial conditions are poised to tighten further as the global recovery proceeds. While monetary policy normalization should be a healthy glo...
We find historical fiscal multipliers for Brazil around 0.5, larger than what existing literature typically identifies for the average emerging market...
A Simple Approach
We develop a simple approach to identify economic news and monetary shocks at a high frequency. The approach is used to examine financial market devel...
This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two pa...