In Latin America, Fiscal Policy Can Lighten the Burden of Central Banks by Gustavo Adler, Nigel Chalk published by IMF (4/2023). “Taming inflation requires slowing down demand. While monetary policy has played its part, lowering fiscal deficits would also help lessen…
Fiscal Monitor: On the Path to Policy Normalization published by IMF (4/2023). The report discusses how public finances have fluctuated with multiple shocks since the pandemic, characterized by atypical growth, inflation dynamics, and fiscal support to mitigate the shocks….
Central bank digital currencies: policy implications by Daniel Broby published by Law and Financial Markets Review (5/2023). This paper lists fifteen key policy implications resulting from a decision to introduce retail and/or wholesale central bank digital currencies (CBDCs). It…
Mercado de capitais e crédito corporativo de longo prazo: Oportunidades e perspectivas por Ernani Teixeira Torres Filho, Luiz Macahyba publicado por FIESP (4/2023). “A disponibilidade de recursos privados de longo prazo constitui um determinante importante do desenvolvimento econômico de…
Capítulo 2: Inflación y desinflación: ¿Qué papel ha de cumplir la política fiscal? Publicado por Monitor Fiscal/IMF (4/2023). “La escalada de la inflación desde 2021 —la más pronunciada en más de tres décadas— ha exigido la respuesta de las…
This is not America: The Credit Channel of Monetary Policy in Brazil by Laura Elias, Bernardo Guimaraes (8/2022). We estimate the monetary policy pass-through to lending rates in Brazil and the United States using the same methodology and obtain…
The two-regime view of inflation by Claudio Borio, Marco Lombardi, James Yetman and Egon Zakrajšek published by BIS (3/2023). This study provides a view of the inflation process that is complementary to the one captured in standard models, such…
Chapter 2: Inflation and Disinflation: What Role for Fiscal Policy? published by IMF (4/2023) The chapter finds that although surprise inflation may offer some breathing room for debt ratios, attempts to keep surprising bondholders have historically proven futile or…
Limites da ação discricionária do BC diante de omissões regulamentares por Élida Graziane Pinto publicado por Consultor Jurídico (3/2023). Omissões normativas sobre conceitos sensíveis têm propiciado que seja alargada de forma indevida a discricionariedade do Banco Central (BC). Agir para…
Arranjos Institucionais, Custo da Dívida Pública e Equilíbrio Fiscal: a despesa “ausente” e os limites do ajuste estrutural por Luís Carlos G. de Magalhães e Carla Rodrigues Costa publicado por Ipea (8/2018) “A questão do desequilíbrio fiscal tornou-se central…
