{"id":{"repo_id":"brazil-ufpb","oai_identifier":"oai:repositorio.ufpb.br:123456789/1859"},"canonical_url":"https://search.dev.ndltd.org/etd/brazil-ufpb/oai:repositorio.ufpb.br:123456789/1859","repository":{"repo_id":"brazil-ufpb","name":"Brazil UFPB","base_url":"https://repositorio.ufpb.br/oai/request"},"display":{"title":"Testando quebras estruturais em uma regra de política monetária com regressores endógenos: um estudo empírico para o Brasil (2000-2016)","abstract":"The objective of this work is to perform structural break tests to verify possible changes in the conduct of monetary policy in Brazil after the adoption by the Brazilian monetary authority of the regime of inflation targets, taking into account that the regressors of the reaction function of the BCB are potentially endogenous variables. For that, the methodology developed by Perron and Yamamoto (2014) will be used. This procedure is based on the estimation of the model by instrumental variables, and makes it possible to estimate the dates of the structural breaks and to carry out the tests to verify if these breaks are significant. The test for breaks shows three structural changes in the parameters of the BCB reaction function. The estimated dates for these breaks were December 2002, October 2005 and September 2011. The results showed that the largest response by the Brazilian monetary authority to combat inflation was observed in the Tombini period (2011: 09-2016: 06). Considering the results of the estimated parameters, it was observed that the largest BCB reaction to the expected inflation gap was observed in the Fraga-Meireles (2002:12-2005-09) and Tombini (2011:09-2016:06) subperiods. It was also possible to verify that the BCB responded more to the expected inflation gap than to the output gap.","abstract_html":"The objective of this work is to perform structural break tests to verify possible changes in the conduct of monetary policy in Brazil after the adoption by the Brazilian monetary authority of the regime of inflation targets, taking into account that the regressors of the reaction function of the BCB are potentially endogenous variables. For that, the methodology developed by Perron and Yamamoto (2014) will be used. This procedure is based on the estimation of the model by instrumental variables, and makes it possible to estimate the dates of the structural breaks and to carry out the tests to verify if these breaks are significant. The test for breaks shows three structural changes in the parameters of the BCB reaction function. The estimated dates for these breaks were December 2002, October 2005 and September 2011. The results showed that the largest response by the Brazilian monetary authority to combat inflation was observed in the Tombini period (2011: 09-2016: 06). Considering the results of the estimated parameters, it was observed that the largest BCB reaction to the expected inflation gap was observed in the Fraga-Meireles (2002:12-2005-09) and Tombini (2011:09-2016:06) subperiods. It was also possible to verify that the BCB responded more to the expected inflation gap than to the output gap.","abstract_has_math":false,"creators":["Silva, Ana Aparecida Diniz da"],"institution":"Universidade Federal da Paraíba","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2016,"date_issued":"2016-12-01","date_published":"2016-12-01","updated_at":"2026-07-24T01:18:21Z","subjects":["Política monetária","Inflação","Economia brasileira"],"languages":["por"],"rights":["Acesso aberto"],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://repositorio.ufpb.br/jspui/handle/123456789/1859","outbound_label":"Repository record","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Silva, Ana Aparecida Diniz da"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2017-08-29T19:25:33Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2017-02-06","2017-08-29T19:25:33Z"]},{"key":"dc:date.issued","label":"Date","values":["2016-12-01"]},{"key":"dc:publisher","label":"Institution","values":["Universidade Federal da Paraíba"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Economia"]},{"key":"dc:type","label":"Dc Type","values":["TCC"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Política monetária","Inflação","Economia brasileira"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["por"]},{"key":"dc:rights","label":"Dc Rights","values":["Acesso aberto"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://repositorio.ufpb.br/jspui/handle/123456789/1859"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["The objective of this work is to perform structural break tests to verify possible changes in the conduct of monetary policy in Brazil after the adoption by the Brazilian monetary authority of the regime of inflation targets, taking into account that the regressors of the reaction function of the BCB are potentially endogenous variables. For that, the methodology developed by Perron and Yamamoto (2014) will be used. This procedure is based on the estimation of the model by instrumental variables, and makes it possible to estimate the dates of the structural breaks and to carry out the tests to verify if these breaks are significant. The test for breaks shows three structural changes in the parameters of the BCB reaction function. The estimated dates for these breaks were December 2002, October 2005 and September 2011. The results showed that the largest response by the Brazilian monetary authority to combat inflation was observed in the Tombini period (2011: 09-2016: 06). Considering the results of the estimated parameters, it was observed that the largest BCB reaction to the expected inflation gap was observed in the Fraga-Meireles (2002:12-2005-09) and Tombini (2011:09-2016:06) subperiods. It was also possible to verify that the BCB responded more to the expected inflation gap than to the output gap."]},{"key":"dc:title","label":"Title","values":["Testando quebras estruturais em uma regra de política monetária com regressores endógenos: um estudo empírico para o Brasil (2000-2016)"]}]}],"canonical_facts":{"dc:creator":["Silva, Ana Aparecida Diniz da"],"dc:date.accessioned":["2017-08-29T19:25:33Z"],"dc:date.available":["2017-02-06","2017-08-29T19:25:33Z"],"dc:date.issued":["2016-12-01"],"dc:description.abstract":["The objective of this work is to perform structural break tests to verify possible changes in the conduct of monetary policy in Brazil after the adoption by the Brazilian monetary authority of the regime of inflation targets, taking into account that the regressors of the reaction function of the BCB are potentially endogenous variables. For that, the methodology developed by Perron and Yamamoto (2014) will be used. This procedure is based on the estimation of the model by instrumental variables, and makes it possible to estimate the dates of the structural breaks and to carry out the tests to verify if these breaks are significant. The test for breaks shows three structural changes in the parameters of the BCB reaction function. The estimated dates for these breaks were December 2002, October 2005 and September 2011. The results showed that the largest response by the Brazilian monetary authority to combat inflation was observed in the Tombini period (2011: 09-2016: 06). Considering the results of the estimated parameters, it was observed that the largest BCB reaction to the expected inflation gap was observed in the Fraga-Meireles (2002:12-2005-09) and Tombini (2011:09-2016:06) subperiods. It was also possible to verify that the BCB responded more to the expected inflation gap than to the output gap."],"dc:identifier.uri":["https://repositorio.ufpb.br/jspui/handle/123456789/1859"],"dc:language":["por"],"dc:publisher":["Universidade Federal da Paraíba"],"dc:publisher.department":["Economia"],"dc:rights":["Acesso aberto"],"dc:subject":["Política monetária","Inflação","Economia brasileira"],"dc:title":["Testando quebras estruturais em uma regra de política monetária com regressores endógenos: um estudo empírico para o Brasil (2000-2016)"],"dc:type":["TCC"]},"updated_at":"2026-07-24T01:18:21Z"}