| Description |
1 online resource (29 pages) |
| Series |
IMF Working Papers, 1018-5941 ; WP/17/12 |
|
IMF working paper ; WP/17/12.
|
| Contents |
Cover; Contents; Abstract; I. Introduction; II. Literature Review; III. Characterizing Brazilian Financial Cycles; IV. Results; V. What are the Risks from a Credit Slowdown?; VI. Conclusions and Policy Implications; Tables; 1. Variables Included in the Estimation of Financial Conditions Index; 2. Key Macro-Financial Linkages in Brazil; Figures; 1. Financial Cycles, Business Cycle in Brazil; 2. Aggregate Model: Impulse Response Functions; 3. Disaggregate Model: Impulse Response Functions; 4. Historical Shock Decomposition of Output Gap, Aggregate Model; Appendix; A. Models |
|
B. Estimated ParametersAppendix Tables; A1. Calibrated Parameters; A2. Estimated Parameters; References |
| Summary |
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 |
| Notes |
Print version record |
| Subject |
Economic history
|
|
Economic policy
|
| SUBJECT |
Brazil -- Economic conditions.
http://id.loc.gov/authorities/subjects/sh85016532
|
|
Brazil -- Economic policy.
http://id.loc.gov/authorities/subjects/sh2008000207
|
| Subject |
Brazil
|
| Form |
Electronic book
|
| Author |
Matheson, Troy, author.
|
| ISBN |
9781475572599 |
|
147557259X |
|
1475571046 |
|
9781475571042 |
|
