Inflation Persistence in Brazil : A Cross Country Comparison /
Inflation persistence is sometimes defined as the tendency for price shocks to push the inflation rate away from its steady state-including an inflation target-for a prolonged period. Persistence is important because it affects the output costs of lowering inflation back to the target, often describ...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
2014.
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| Series: | IMF Working Papers; Working Paper ;
No. 2014/055 |
| Subjects: | |
| Online Access: | Full text available on IMF |
| Summary: | Inflation persistence is sometimes defined as the tendency for price shocks to push the inflation rate away from its steady state-including an inflation target-for a prolonged period. Persistence is important because it affects the output costs of lowering inflation back to the target, often described as the 'sacrifice ratio'. In this paper I use inflation expectations to provide a comparison of inflation persistence in Brazil with a sample of inflation targeting (IT) countries. This approach suggests that inflation persistence increased in Brazil through early 2013, in contrast to many of its IT peers, mainly due to 'upward' persistence. The 2013 rate hiking cycle may have contributed to some recent decline in persistence. |
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| Item Description: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Physical Description: | 1 online resource (22 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Access: | Electronic access restricted to authorized BRAC University faculty, staff and students |