SciELO - Scientific Electronic Library Online

 
vol.27 número1A natureza da inflação de serviços no Brasil: 1999-2014*Salário mínimo e distribuição de renda no Brasil a partir dos anos 2000* índice de autoresíndice de assuntospesquisa de artigos
Home Pagelista alfabética de periódicos  

Serviços Personalizados

Journal

Artigo

Indicadores

Links relacionados

Compartilhar


Economia e Sociedade

versão impressa ISSN 0104-0618versão On-line ISSN 1982-3533

Resumo

FERREIRA, Douglas Marcos  e  MATTOS, Leonardo Bornacki de. Financial stress in the Brazilian economy during an inflation targeting regime. Econ. soc. [online]. 2018, vol.27, n.1, pp.233-263. ISSN 0104-0618.  http://dx.doi.org/10.1590/1982-3533.2017v27n1art8.

Financial crises that have occurred in recent decades brought new challenges for policymakers in developed and developing countries in order to include issues related to financial stability. This paper aimed to build a Financial Stress Index (FSI) to identify and characterize episodes of financial stress that affected the Brazilian economy during an inflation targeting regime. Five episodes of stress with a duration of greater or equal to three months were identified. Four of them were associated with crises that impacted the Brazilian economy: the economic confidence crisis (2002); crisis of subprime (2008); crisis in the euro zone (2011) and the political and economic crisis (2014). The instability in the foreign exchange and stock market enhanced the impact of major episodes of financial stresses on the Brazilian economy. Results showed that the F.S.I. can be a useful tool for the Brazilian Central Bank to identify such episodes which generate financial stress in the economy.

Palavras-chave : Financial stress; Financial stress index; Financial crises; Monetary economy; Central Banking.

        · resumo em Português     · texto em Português     · Português ( pdf )