EconPapers    
Economics at your fingertips  
 

ANÁLISE DAS CONDIÇÕES DE ESTABILIDADE DE UM MODELO MACRODINÂMICO WALRASIANO SOB DIFERENTES REGRAS DE POLÍTICA MONETÁRIA

Breno Pascualote Lemos, Rodrigo Ayres Padilha and José Luís Oreiro ()

Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: In this paper we perform an analysis of the stability conditions of a macrodynamic model with Walrasian adjustment under three different rules of monetary policy: the maintenance of a constant supply of real money balances, a fixed rule of monetary growth (or Friedman's rule) and the inflation targeting rule. The analysis of the model's stability conditions under study allows us to reach the conclusion that inflation targeting has the greater propensity towards stability than the other rules. This result shows that the wider flexibility in the use of instruments of monetary policy in comparison with the Friedman's rule, in parallels with the non-passivity of the inflation targeting regime in comparison with the constant supply rule, are important characteristics for the obtention of macroeconomic stability.

JEL-codes: E10 E52 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-cba and nep-mac
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.anpec.org.br/encontro2005/artigos/A05A039.pdf

Related works:
Working Paper: Análise das condições de estabilidade de um modelo macrodinâmico Walrasiano sob diferentes regras de política monetária (2005) Downloads
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:anp:en2005:039

Ordering information: This working paper can be ordered from
Secretaria da ANPEC Rua Prof Marcos Valdemar de Freitas Reis s/n Campus do Campus do Gragoatá, Bloco F Niterói, RJ 24210-201 Brazil

Access Statistics for this paper

More papers in Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics] Secretaria da ANPEC Rua Prof Marcos Valdemar de Freitas Reis s/n Campus do Campus do Gragoatá, Bloco F Niterói, RJ 24210-201 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Rodrigo Zadra Armond ().

 
Page updated 2022-09-21
Handle: RePEc:anp:en2005:039