Taylor's Rule and Monetary Policy: evidence for Brazil after the implementation of the Inflation Targeting Regime

Authors

  • Ednando Batista Vieira UEG
  • Rafael Martins de Paula UEG

DOI:

https://doi.org/10.14393/REE-v37n2a2022-61216

Keywords:

Taylor's Rule, Monetary Policy, Interest Rate

Abstract

The basic interest rate adjustment course (SELIC) varies according to the maintenance of the technical management of the bodies conducting economic policies. Thus, this work aims to examine the changes in the SELIC as instruments of monetary policy since the beginning of the implementation of the inflation targeting system, observing which variables were significant for the reactions of the SELIC, having the Taylor rule as a foundation. With this, a Central Bank reaction function was estimated for the period from June 1999 to December 2019. The results show that the SELIC reacted according to the shocks in macroeconomic variables.

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Published

2022-11-11

How to Cite

BATISTA VIEIRA, E.; MARTINS DE PAULA, R. Taylor’s Rule and Monetary Policy: evidence for Brazil after the implementation of the Inflation Targeting Regime. Revista Economia Ensaios, Uberlândia, Minas Gerais, Brasil, v. 37, n. 2, 2022. DOI: 10.14393/REE-v37n2a2022-61216. Disponível em: https://seer.ufu.br/index.php/revistaeconomiaensaios/article/view/61216. Acesso em: 23 nov. 2024.

Issue

Vol. 37 No. 2 (2022)

Section

Artigos

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