Identificação da curva de Phillips Novo Keynesiana para uma pequena economia aberta

• Ano de defesa: 2022
• Autor(a) principal: Lima, Ricari Carolini Araújo de
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Instituição de defesa: Universidade Federal da Paraíba; Brasil; Economia; Programa de Pós-Graduação em Economia; UFPB
• Palavras-chave em Português: Inflação - Brasil; Economia aberta; Curva de Phillips Novo Keynesiana - CPNK; Choques monetários; Inflação - Instrumentos fracos; Choques econômicos - Brasil; Inflation - Brazil; Open economy; Currency shocks; Inflation - Weak instruments; Economic shocks - Brazil; CNPQ::CIENCIAS SOCIAIS APLICADAS::ECONOMIA
• Link de acesso: https://repositorio.ufpb.br/jspui/handle/123456789/30229

This paper aimed to analyze the inflationary dynamics in Brazil, considering it as a small open economy and using robust estimation procedures for weak identification. The first approach consists of using predetermined variables as instruments, and the second one involves monetary shocks. In general terms, it was found that monetary shocks cannot identify the coefficients of the New Keynesian Phillips curve for a small open economy using Brazilian data. However, when using lagged instruments, the parameters were identified. In this approach, it was observed that variables related to Brazil’s open economy had a reduced influence in explaining current inflation with recent data. Nevertheless, it was noted that the exchange rate still plays an informative role regarding the behavior of marginal costs.