A note on the effects of monetary policy surprises on the Brazilian term structure of interest rates

被引：9

作者：

Tabak, BM ^{[1
]}

机构：

[1] Banco Cent Brasil, SBS, BR-70074900 Brasilia, DF, Brazil

来源：

JOURNAL OF POLICY MODELING | 2004年 / 26卷 / 03期

关键词：

information content; announcements; interest rates; monetary policy;

D O I：

10.1016/j.jpolmod.2004.02.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines the information content of COPOM decisions by estimating the responses of the term structure to changes in target short-term interest rates on COPOM meeting days. Within an event-study approach empirical evidence suggests that the introduction of the floating exchange rate and the inflation targeting (IT) regime have had a dampening effect on interest rate surprises along the term structure. (C) 2004 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.

引用

页码：283 / 287

页数：5

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