TY - JOUR
T1 - The market reaction to changes in the Brazilian official interest rate
AU - Buchholz, A.
AU - Cupertino, C.
AU - Meurer, R.
AU - Santos, A.P.
AU - da Costa, N.
PY - 2012/3/5
Y1 - 2012/3/5
N2 - This study is aimed at investigating the effects of monetary policymaking on the short-term and long-term interest rates for the Brazilian economy for the period August 1999 to March 2011. It is shown that the reversal of the current account deficit and the alleviation of political uncertainties in 2003 affect the impact of monetary policy on market interest rates. In particular, it is observed that surprises in policymaking are substantially reduced after the macroeconomic and political stability.
AB - This study is aimed at investigating the effects of monetary policymaking on the short-term and long-term interest rates for the Brazilian economy for the period August 1999 to March 2011. It is shown that the reversal of the current account deficit and the alleviation of political uncertainties in 2003 affect the impact of monetary policy on market interest rates. In particular, it is observed that surprises in policymaking are substantially reduced after the macroeconomic and political stability.
UR - http://www.scopus.com/inward/record.url?eid=2-s2.0-84858390718&partnerID=MN8TOARS
U2 - 10.1080/13504851.2011.629975
DO - 10.1080/13504851.2011.629975
M3 - Article
SN - 1350-4851
VL - 19
SP - 1359
EP - 1364
JO - Applied Economics Letters
JF - Applied Economics Letters
IS - 14
ER -