04341oam 22010934 450 991016503690332120250426110847.0978147557252014755725229781475572599147557259X(CKB)3710000001064740(MiAaPQ)EBC4807079(IMF)WPIEA2017012WPIEA2017012(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 Papers9781475571042 1475571046 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