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Metas Inflacionárias, Preços Livres E Administrados No Brasil: Uma Análise Econométrica

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  • Cleomar Gomes
  • Otávio Aidar

Abstract

The aim of this paper is to analyze the performance of inflation targeting in Brazil and the role of prices controlled by the government and prices freely defined by the supply/demand system. We argue that the Brazilian inflation targeting regime has had some drawbacks, related to the determination of the right index price, from the beginning of its implementation which, as a result, has had some negative influence on the economy as a whole. Our results show that controlled prices have a considerable impact in the inflation and, consequently, in the inflation targeting system. Our results also show that the attempt to control inflation from the demand side, through the Taylor Rule, has a negative impact in the economic growth Therefore, the system calls for some analysis in order to be suitable to the Brazilian scenario.

Suggested Citation

  • Cleomar Gomes & Otávio Aidar, 2004. "Metas Inflacionárias, Preços Livres E Administrados No Brasil: Uma Análise Econométrica," Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] 031, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    • Handle: RePEc:anp:en2004:031
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    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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