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.
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页码：283 / 287
页数：5
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