Metas de inflação, política monetária e investimento : um estudo para dezessete países
By: PELICIONI, Luis Alberto
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Contributor(s): RESENDE, Marco Flávio Da Cunha.
Material type: 
ArticlePublisher: Ediotora 34, jul./set.2009Revista de Economia Política = Brazilian Journal of Political Economy 29, 3, p. 71-92Abstract: Inflation targets, monetary policy and investment. 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.
Inflation targets, monetary policy and investment. 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.
v. 29, n. 3(115)
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