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Brazil : : Selected Issues



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Titolo: Brazil : : Selected Issues Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2016
Descrizione fisica: 1 online resource (159 p.)
Soggetto topico: Foreign Exchange
Investments: Futures
Macroeconomics
Money and Monetary Policy
Public Finance
Social Security and Public Pensions
Pension Funds
Non-bank Financial Institutions
Financial Instruments
Institutional Investors
Macroeconomics: Consumption
Saving
Wealth
Price Level
Inflation
Deflation
Pensions
Currency
Foreign exchange
Public finance & taxation
Finance
Pension spending
Futures
Exchange rates
Aging
Expenditure
Financial institutions
Prices
Population and demographics
Derivative securities
Expenditures, Public
Consumption
Economics
Business cycles
Soggetto geografico: Brazil
Sommario/riassunto: This paper assesses the importance of financial market developments for the business cycle in Brazil. The results underscore the importance of macro-financial linkages and highlight risks to the recovery going forward. Although some of the rise in credit growth in Brazil can be attributed to financial deepening and rising income levels, it may have implications for economic activity going forward. Cross-country evidence suggests that periods of easy financial conditions can amplify economic fluctuations and possibly lead to adverse economic outcomes. To explore the nexus between the financial cycle and business cycle, cycles are estimated using a variety of commonly-used statistical methods and with a small, semi-structural 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. Financial sector developments are found to be an important source of macroeconomic fluctuations. Financial accelerator models highlight the role of credit and asset prices in shaping the business cycle.
Titolo autorizzato: Brazil  Visualizza cluster
ISBN: 1-4755-5323-4
1-4755-5329-3
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910155012803321
Lo trovi qui: Univ. Federico II
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Serie: IMF Staff Country Reports; Country Report ; ; No. 2016/349