The contagion effect of public debt on monetary policy

Fernando Barbosa

Brazilian Journal of Political Economy, 2006, vol. 26, issue 2, 231-238

Abstract: This paper attempts to explain why the Brazilian inter-bank interest rate is so high compared with rates practiced by other emerging economies. The interplay between the markets for bank reserves and government securities feeds into the inter-bank rate the risk premium of the Brazilian public debt. JEL Classification: E4; E5.

Keywords: inter-bank interest rate; public debt risk premium; monetary policy operational procedures (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:26:y:2006:i:2:p:231-238:id:598

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