Behavior of the monetary base and its conditioning factors in Brazil between January 1992 and March 1996

Robert Samohyl () and Roberto Meurer ()

Brazilian Journal of Political Economy, 1997, vol. 17, issue 3, 330-342

Abstract: This paper studies the behavior of the monetary base and its proximate determinantsin Brazil between January of 1992 and March of 1996. To achieve this, the paperanalyzes monthly variations of the base, using correlation coefficients and the relative participationof each determinant on total variation. The analysis demonstrates that there areseveral specific differences before and after the Real Plan in the profile of the determinants.However, the analysis also shows that in both periods one of the major determinants of themonetary base is the net flow of foreign exchange to Brazil. JEL Classification: E58; C54.

Keywords: Monetary base; Plano Real; inflation; stabilization (search for similar items in EconPapers)
Date: 1997
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