04204oam 22010334 450 991016503690332120230809222735.01-4755-7259-X(CKB)3710000001064740(MiAaPQ)EBC4807079(IMF)WPIEA2017012(EXLCZ)99371000000106474020020129d2017 uf 0engurcnu||||||||rdacontentrdamediardacarrierFinancial and Business Cycles in Brazil /Ivo Krznar, Troy MathesonWashington, D.C. :International Monetary Fund,2017.1 online resource (29 pages) color illustrations, tables, graphsIMF Working Papers1-4755-7104-6 Includes bibliographical references.This paper explores the nexus between the financial cycle and business cycle in Brazil. Cycles are estimated using a variety of commonly-used statistical methods and with a small, semistructural model of the Brazilian economy. An advantage of using the model-based approach is that financial and business cycles can be jointly estimated, allowing information from all key economic relationships to be used in a consistent way. The results show that Brazil is now in the downturn phase of the financial cycle. Moreover, the results underscore the importance of macro-financial linkages and highlight risks to the recovery going forward.IMF Working Papers; Working Paper ;No. 2017/012Banks and BankingimfMacroeconomicsimfMoney and Monetary PolicyimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfFinancial Markets and the MacroeconomyimfGeneral Financial Markets: General (includes Measurement and Data)imfFinancial Institutions and Services: GeneralimfMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralimfBusiness FluctuationsimfCyclesimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfMonetary economicsimfEconomic growthimfBankingimfCreditimfFinancial cyclesimfBusiness cyclesimfCredit cyclesimfState-owned banksimfMoneyimfFinancial sector policy and analysisimfFinancial institutionsimfBanks and bankingimfBrazilEconomic conditionsBrazilEconomic policyBrazilimfBanks and BankingMacroeconomicsMoney and Monetary PolicyPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Financial Markets and the MacroeconomyGeneral Financial Markets: General (includes Measurement and Data)Financial Institutions and Services: GeneralMonetary Policy, Central Banking, and the Supply of Money and Credit: GeneralBusiness FluctuationsCyclesBanksDepository InstitutionsMicro Finance InstitutionsMortgagesMonetary economicsEconomic growthBankingCreditFinancial cyclesBusiness cyclesCredit cyclesState-owned banksMoneyFinancial sector policy and analysisFinancial institutionsBanks and banking330.981063Krznar Ivo1376435Matheson Troy1450443DcWaIMFBOOK9910165036903321Financial and Business Cycles in Brazil3649675UNINA