Quinze anos de rigidez monetária no Brasil pós-Plano Real : uma agenda de pesquisa
By: MODENESI, Andre de Melo
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Contributor(s): MODENESI, Rui Lyrio.
Material type: 
ArticlePublisher: São Paulo : Editora 34, jul./set. 2012Subject(s): Política Monetária | Inflação | Estabilidade Econômica | Reforma Econômica | Dívida Pública | Brasil | BrasilRevista de Economia Política = Brazilian Journal of Political Economy 32, 3, p. 389-411Abstract: Fifteen years of monetary rigidity in Brazil after the Real Plan: a research agenda. The paper makes a review of literature and a research agenda on the anomaly of Brazilian monetary policy. Following a retrospect of the first 15 years after the Real Plan, there is a review of studies aiming to explain the high real interest rate. None of the summarized theses can completely explain the phenomenon. The main research opportunities are: deepening of empirical evidence of monetary policy efficacy loss; improvement in mensuration of its inefficacy; and improvement of alternative instruments to control inflation. The field of political economy is also fertile. One should assess the relevance of oligopolies as an explaining factor of persistence of high inflation
Fifteen years of monetary rigidity in Brazil after the Real Plan: a research agenda. The paper makes a review of literature and a research agenda on the anomaly of Brazilian monetary policy. Following a retrospect of the first 15 years after the Real Plan, there is a review of studies aiming to explain the high real interest rate. None of the summarized theses can completely explain the phenomenon. The main research opportunities are: deepening of empirical evidence of monetary policy efficacy loss; improvement in mensuration of its inefficacy; and improvement of alternative instruments to control inflation. The field of political economy is also fertile. One should assess the relevance of oligopolies as an explaining factor of persistence of high inflation
v. 32, n. 3(128)
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