Metas de inflação, política monetária e investimento: um estudo para dezessete países Inflation targets, monetary policy and investment
<abstract language="eng">In this paper two hypotheses about the relationship between monetary policy and investment in the context of the inflation target system were tested. One of these hypotheses is based on the idea of neutrality of money, and the other hypothesis is based on the...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Editora 34
2009-09-01
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| Series: | Brazilian Journal of Political Economy |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572009000300005 |
| Summary: | <abstract language="eng">In this paper two hypotheses about the relationship between monetary policy and investment in the context of the inflation target system were tested. One of these hypotheses is based on the idea of neutrality of money, and the other hypothesis is based on the reject of that idea. An investment equation for seventeen economies using a piece-wise dummy variable was estimated by the Methodology of Panel Data. The results highlight that a negative correlation between current expectation of restrictive monetary policy and current investment rose after the inflation target system implementation. |
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| ISSN: | 0101-3157 1809-4538 |