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Efeitos da Globalização na Inflação Brasileira

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  • Rafael Santos
  • Márcia S. Leon

Abstract

In this paper we present a dynamic stochastic general equilibrium (DSGE) model, which aims at evaluating the effects of trade globalization over inflation. The period of the inflation targeting regime (1999-2008) is employed to estimate the parameters for the Brazilian economy. The results show that trade globalization appreciates the terms of trade and reduces the inflation rate. Meanwhile to implement barriers to trade - for example, by increasing import and/or export taxes - affects positively the inflation rate. Under a secondary purpose of disseminating technical information, we derive in the appendix the model developed in the paper and we describe in the introduction the recent evolution of the Brazilian international trade.

Suggested Citation

  • Rafael Santos & Márcia S. Leon, 2010. "Efeitos da Globalização na Inflação Brasileira," Working Papers Series 201, Central Bank of Brazil, Research Department.
    • Handle: RePEc:bcb:wpaper:201
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    File URL: https://www.bcb.gov.br/content/publicacoes/WorkingPaperSeries/wps201.pdf
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    Cited by:

    1. Central Bank of Brazil, 2018. "Globalisation and deglobalisation," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation and deglobalisation, volume 100, pages 71-82, Bank for International Settlements.

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