EFFECTS OF CLOSE EXPANSIONARY MONETARY POLICY THE US TO BRAZIL: AN ANALYSIS OF INTEREST RATE, EXCHANGE AND INFLATION

Pedro Vartanian and Juliana Rodrigues de Lima ()
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Juliana Rodrigues de Lima: Universidade Presbiteriana Mackenzie (UPM)

Revista de Economia Mackenzie (REM), 2014, vol. 12, issue 1, 139-166

Abstract: This paper analyzes the effects of the end of Quantitative Easing of the United States of America over the Brazilian economics, emphasizing on the interest rate, exchange rate and inflation. For this purpose, the static and dynamic econometric models will be used to evaluate the relationship between the interest rate in USA and the macroeconomic variables in Brazil, specified in the research. Despite the limitation of the covered period by the econometric estimates, it is possible to observe that the Federal Reserve System announcement about the reduction of the monetary stimulus promoted a process of repricing of currencies and titles with indirect effects on the Brazilian inflation during the analyzed period.

Keywords: Monetary policy; Exchange rate; Brazilian economy (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:aft:journl:v:12:1:2014:2015:p:139-166

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