Os determinantes da inflação brasileira recente: estimações utilizando redes neurais [Determinants of recent Brazilian inflation: Estimates using neural networks]

Ricardo Figueiredo Summa and Leonardo Macrini
Additional contact information
Ricardo Figueiredo Summa: IE/UFRJ
Leonardo Macrini: ITR/UFRRJ

Nova Economia, 2014, vol. 24, issue 2, 279-296

Abstract: In this paper we assess the determinants of recent Brazilian inflation, specifically since 1999 when the Inflation Targeting System was implemented. Using a Neural Network model, we evaluate: (1) if the demand pressures, measured by the output gap and unemployment gap, have a clear and systematic impact on inflation, (2) if “imported inflation”, including tradable goods inflation in dollars and the nominal exchange rate changes, exerts a significant influence on inflation, and (3) if the channel of interest rates cost is empirically verified in the Brazilian case. We conclude that recent Brazilian inflation depends mainly on inflation inertia, “imported inflation” and changes in the nominal interest rate.

Keywords: inflation; inflation targeting system; Brazilian economy (search for similar items in EconPapers)
JEL-codes: C45 E30 E31 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.scielo.br/scielo.php?script=sci_pdf&pid ... g=pt&nrm=iso&tlng=pt (application/pdf)
http://www.scielo.br/scielo.php?script=sci_arttext ... g=pt&nrm=iso&tlng=pt (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nov:artigo:v:24:y:2014:i:2:p:279-296

Ordering information: This journal article can be ordered from
Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil
https://revistas.fac ... dex.php/novaeconomia

Access Statistics for this article

Nova Economia is currently edited by Gustavo de Britto Rocha

More articles in Nova Economia from Economics Department, Universidade Federal de Minas Gerais (Brazil) Av. Antonio Carlos, 6627 - Predio da FACE Belo Horizonte, 31270-901 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Lucas Resende de Carvalho ().