Browsing FGV EPGE - Ensaios Econômicos by Author "Carvalho, Carlos Viana de"

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Endogenous time-dependent rules and inflation inertia: preliminary version

Carvalho, Carlos Viana de; Bonomo, Marco Antônio Cesar
1999-06

When policy rules are changed, the effect of nominal rigidities should be modelled through endogenous pricing rules. We endogenize Taylor (1979) type pricing rule to examine the output effects of monetary disinflations. ...
Endogenous time-dependent rules and the costs of disinflation with imperfect credibility

Bonomo, Marco Antônio Cesar; Carvalho, Carlos Viana de
2003-10-09

This paper examines the output effects of monetary disinflation in a model with endogenous time-dependent pricing rules and imperfect credibility of the disinflation policy. We find that these features interact to generate ...
Imperfectly credible disinflation under endogenous time-ependent pricing

Carvalho, Carlos Viana de; Bonomo, Marco Antônio Cesar
2005-08-01

The real effects of an imperfectly credible disinflation depend critically on the extent of price rigidity. Therefore, the study of how policymakers’ credibility affects the outcome of an announced disinflation should not ...