Economics, Econometrics and Finance
8 years ago

Brazil's Inflation Stabilized by Changing Interest Rate Response, Study Finds.

SSRN Electronic Journal
Did the Taylor Rule Stabilize Inflation in Brazil?
Rodrigo De-Losso

Paper Summary

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The study looked at how Brazil's monetary policy changed before and after a plan that stabilized inflation in 1994. They found that before the stabilization, interest rates went up more than inflation, but after the stabilization, interest rates didn't go up as much. This goes against what the Taylor Rule suggests. Other tests using different measures all supported these results.