The indexation of wages and bonds in Brazil

Joao Ricardo Faria and Francisco Carneiro

Applied Economics, 1997, vol. 29, issue 11, 1459-1464

Abstract: This paper analyses the dynamic relationship between the degrees of indexation of wages and public bonds in Brazil. A simple model is constructed to show that both degrees of indexation are determined simultaneously. We apply cointegration techniques and estimate error-correction representations to assess the temporal causality between them. Our results provide empirical support for the existence of simultaneity in the degrees of indexation in Brazil in the period 1980-93.

Date: 1997
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DOI: 10.1080/000368497326282

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