Browsing Documentos Indexados pela Web of Science by Subject "Política monetária"

Now showing items 1-7 of 7

    • Asymmetric transmission of a bank liquidity shock 

      Schiozer, Rafael Felipe; Oliveira, Raquel de Freitas
      2016-08
      We investigate whether banks that receive a positive liquidity shock make up for the reduction in the amount of credit supplied by banks that suffer a negative liquidity shock. For identification, we use the exogenous shock ...

    • Conventional and unconventional monetary policy with endogenous collateral constraints 

      Araújo, Aloísio Pessoa de; Schommer, Susan; Woodford, Michael
      2015-01
      We consider the effects of central bank purchases of a risky asset as an additional dimension of policy alongside 'conventional' interest rate policy in a general-equilibrium model of asset pricing with endogenous collateral ...

    • Limited monitoring and the essentiality of money 

      Araujo, Luis Fernando Oliveira de; Camargo, Bráz Ministério de
      2015-05
      Monetary theory emphasizes that imperfect monitoring is necessary for money to be essential, that is, for money to achieve socially desirable allocations. Little is known about how limited monitoring must be if money is ...

    • Optimal sales tax rebates and tax enforcement consumers 

      Arbex, Marcelo Aarestru; Mattos, Enlinson
      2015-04
      This article incorporates tax evasion and sales tax rebates to consumers into Ramsey's optimal taxation problem. Consumers may act as tax enforcers by requesting sales receipts, forcing firms to remit taxes to the government. ...

    • State space models for the exchange rate pass-through: determinants and null/full pass-through hypotheses 

      Souza, Rafael Martins de; Maciel, Luiz Felipe Pires; Pizzinga, Adrian Heringer
      2013-12-01
      In this article, we formulate linear Gaussian state space models for the estimation of the exchange rate pass-through of the Brazilian Real against the US Dollar, using monthly data from August 1999 to August 2008. The ...

    • Stationarity without degeneracy in a model of commodity money 

      Cavalcanti, Ricardo de Oliveira; Puzzello, Daniela
      2010-05
      We develop a model of macroeconomic heterogeneity inspired by the Kiyotaki-Wright (J Polit Econ 97:924-954, 1989) formulation of commodity money, with the addition of linear utility and idiosyncratic shocks to savings. We ...

    • Welfare and inequality with hard-to-tax markets 

      Arbex, Marcelo Aarestru; Mattos, Enlinson; Ogura, Laudo M.
      2015-09
      This paper examines welfare implications of hard-to-tax markets, which are endogenously determined by tax enforcement costs. We show that social welfare may be maximized by keeping some markets untaxed, even when it is ...