Listagem FGV EPGE - Ensaios Econômicos por autor "Cysne, Rubens Penha"
Itens para a visualização no momento 101-104 of 104
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Welfare cost of Inflation in Brazil: an approach with time-varying cointegration and Kalman filter
2018-08-01This paper compares the time-varying cointegration and the Kalman filter techniques to estimate the Brazilian money demand between 1996 and 2015. The estimation using Kalman filtering performs better and is subsequently ... -
Welfare costs of inflation when interest-bearing deposits are disregarded: a calculation of the bias
2010-01-07Most estimates of the welfare costs of in ation are devised considering only noninterest- bearing assets, ignoring that since the 80s technological innovations and new regulations have increased the liquidity of interest-bearing ... -
Welfare costs of inflation: the case for interest-bearing money and empirical estimates for Brazil
1994-07We provide in this paper a closed fonn for the Welfare Cost of Inflation which we prove to be closer than Bailey's expression to the correct solution of the corresponding non-separable differential equation. Next. we extend ... -
What happens after the central bank of Brazil increases the target interbank rate by 1%?
2005-03-15I start presenting an explicit solution to Taylorís (2001) model, in order to illustrate the link between the target interest rate and the overnight interest rate prevailing in the economy. Next, I use Vector Auto Regressions ...
