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Your search keyword '"Hybrid Phillips curve"' showing total 2 results
Start Over Descriptor "Hybrid Phillips curve" Journal economia aplicada
2 results on '"Hybrid Phillips curve"'

1. An estimation of the hybrid Phillips curve for Brazil in the inflation targeting regime

Author

Divanildo Triches and Flavio Tosi Feijó

Subjects
Hybrid Phillips Curve, inflation targeting, inflation expectation, inertial inflation., Economic history and conditions, HC10-1085, Economics as a science, HB71-74
Abstract

The aim of this paper is to investigate the dynamics of inflation in Brazil between 2000-IV to 2014-II, through the hybrid Phillips Curve approach. This econometric specification allows evaluating the forward looking and backward looking terms. The models were estimated by ARDL method and the results showed that the inclusion of unit labor cost as a proxy for economic activity generated a better fit in the estimation of the Phillips curve. The expectation of inflation has dominance in determining the dynamics of the Brazilian inflation. There is still an inertial component given by the rigidity of prices due to the indexation of several contracts and government managed prices.

Published
2017
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2. An estimation of the hybrid Phillips curve for Brazil in the inflation targeting regime

Author

Flavio Tosi Feijó and Divanildo Triches

Subjects
Inflation, Estimation, lcsh:HB71-74, Inflation targeting, media_common.quotation_subject, Keynesian economics, lcsh:Economics as a science, Rigidity (psychology), Hybrid Phillips Curve, inflation expectation, lcsh:Economic history and conditions, inflation targeting, Dominance (economics), Econometrics, Economics, lcsh:HC10-1085, Proxy (statistics), General Economics, Econometrics and Finance, Phillips curve, Indexation, inertial inflation, media_common
Abstract

O objetivo deste artigo é investigar a dinâmica da inflação no Brasil no período entre 2000-IV e 2014-II, por meio da abordagem da Curva de Phillips híbrida. Essa especificação econométrica permite avaliar os termos forward looking ou expectativa de inflação e backward looking inflação defasada. Os modelos foram estimados pelo método ARDL e os resultados mostraram que a inclusão do custo unitário do trabalho como proxy para a atividade econômica gerou um melhor ajustamento na estimação da Curva de Phillips. A expectativa de inflação tem dominância determinação da dinâmica da inflação brasileira. Há ainda um componente inercial dado pela rigidez de preços proveniente da indexação de contratos e preços administrados.

Published
2017
Full Text
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