Private sector credit and inflation during Brazilian stabilization plans: Models with endogenously determined structural breaks

Maria Beatriz Zerbini and Fabiana Rocha

Brazilian Review of Econometrics, 2002, vol. 22, issue 2

Abstract: The purpose of this paper is to investigate the relationship between credit, inflation, and stabilization plans in Brazil during 1970-1998. The structural changes suffered by credit are endogenously determined using Bai and Perron's methodology (1998). The breaks correspond to the major stabilization plans adopted by the country. A negative relationship between credit and inflation is found. Stability contributes to credit expansion without, however, guaranteeing its quality.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:sbe:breart:v:22:y:2002:i:2:a:2735

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