INFLATION AND VOLATILITY OF RELATIVE PRICES: EVIDENCES FROM LONG PANELS AND PANEL OF VECTORS AUTOREGRESSIVE TO THE BRAZILIAN ECONOMY POST-REAL PLAN
The objective of the present study was to investigate the relationship between inflation and price volatility and the presence of nominal rigidity for the Brazilian economy after the adoption of the Real Plan (from July 1994 to May 2016). The relative price volatility thereunto was calculated for th...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2018 |
| País: | Brasil |
| Institución: | Universidade Federal do Rio Grande do Sul (UFRGS) |
| Repositorio: | Análise Econômica (Online) |
| Idioma: | portugués |
| OAI Identifier: | oai:seer.ufrgs.br:article/70750 |
| Acceso en línea: | https://seer.ufrgs.br/index.php/AnaliseEconomica/article/view/70750 |
| Access Level: | acceso abierto |
| Palabra clave: | Inflação Volatilidade de preços relativos Painéis econométricos C23 C33 E31 Inflation Relative price volatility Econometric panel |
| Sumario: | The objective of the present study was to investigate the relationship between inflation and price volatility and the presence of nominal rigidity for the Brazilian economy after the adoption of the Real Plan (from July 1994 to May 2016). The relative price volatility thereunto was calculated for the 11 capitals considered by the National Wide Consumer Price Index (IPCA). The post-Real period until 2016 was divided into three periods according to the identified macroeconomic specificities. The results of the estimations suggested that there is a positive relation between the inflation and relative price volatility. In addition, the estimates showed that: a) intensity of this relation was systematically reduced after the Plan Real; b) the adoption of the inflation targeting contributed to the reduction of relative price volatility; c) there is no evidence of nominal rigidities in the three sub periods, but there is in the all period. |
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