[An estimation of the Phillips Hybrid curve for Brazil in the inflation targeting regime]An estimation of the Phillips Hybrid curve for Brazil in the inflation targeting regime

The aim of this paper is to investigate the dynamics of inflation in Brazil between 2000-IV to 2014-II, through the hybrid Phillips Curve approach. This econometric specification allows evaluating the forward looking and backward looking terms. The models were estimated by ARDL method and the result...

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Published in:Economia aplicada 2017-01, Vol.21 (1), p.29
Main Authors: Triches, Divanildo, Flavio Tosi Feijó
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Language:Portuguese
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Econometrics
Inflation
Phillips curve
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Flavio Tosi Feijó
description The aim of this paper is to investigate the dynamics of inflation in Brazil between 2000-IV to 2014-II, through the hybrid Phillips Curve approach. This econometric specification allows evaluating the forward looking and backward looking terms. The models were estimated by ARDL method and the results showed that the inclusion of unit labor cost as a proxy for economic activity generated a better fit in the estimation of the Phillips curve. The expectation of inflation has dominance in determining the dynamics of the Brazilian inflation. There is still an inertial component given by the rigidity of prices due to the indexation of several contracts and government managed prices
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subjects Econometrics
Inflation
Phillips curve
title [An estimation of the Phillips Hybrid curve for Brazil in the inflation targeting regime]An estimation of the Phillips Hybrid curve for Brazil in the inflation targeting regime
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