A model of NAIRU for Brazil

S. Marcelo Portugal () and Regina C. Madalozzo ()

Brazilian Journal of Political Economy, 2000, vol. 20, issue 4, 387-409

Abstract: In this article we present some estimates for the Non-Accelerating Inflation Rateof Unemployment (NAIRU) using Brazilian Data. Two different models, Nishizaki (1997)and Debelle and Laxton (1997), are used. The NAIRU is estimated using both the IBGE andDIEESE data. The results show a linear Phillips curve for Brazil and allow a good estimateof the NAIRU. For the IBGE data we obtain a time varying NAIRU while for the DIEESEdata best estimate generates a fixed NAIRU. Our results are in line with the acceleration ofinflation during the eighties and the price stability that follow the Real Plan. JEL Classification: E24; E31.

Keywords: Nairu; inflation; unemployment; Phillips curve (search for similar items in EconPapers)
Date: 2000
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