Inflação versus desemprego: novas evidências para o Brasil

Authors

  • Mário Jorge Cardoso de Mendonça IPEA-Instituto de Pesquisa Econômica Aplicada
  • Adolfo Sachsida IPEA-Instituto de Pesquisa Econômica Aplicada
  • Luis Alberto Toscano Medrano IPEA-Instituto de Pesquisa Econômica Aplicada

DOI:

https://doi.org/10.1590/S1413-80502012000300006

Keywords:

Phillips curve, Inflation, Rational expectations, Unemployment, Exchange rate shock, GMM-HAC method

Abstract

The goal of this article is to estimate the New Keynesian Phillips Curve for Brazil economy. The robustness was checking using not only different proxies but also samples with distinct temporal dimension. The main achievements are the following. Firstly, the inflationary inertia and expectation of inflation are important variables for the dynamic of inflation although the relevance of expectation rise from 2002 onwards. Secondly, the effect of unemployment on inflation seems to be located in the short term. Finally, the relationship between the exchange rate and inflation is marked by a structural break. With data from 2002, the effect of exchange rate shock is negative. But, when one uses data from 1995, the effect on inflation is positive impact.

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Published

2012-09-01

Issue

Vol. 16 No. 3 (2012)

Section

Papers

How to Cite

Mendonça, M. J. C. de, Sachsida, A., & Medrano, L. A. T. (2012). Inflação versus desemprego: novas evidências para o Brasil . Economia Aplicada, 16(3), 475-500. https://doi.org/10.1590/S1413-80502012000300006