ETDs @PUC-Rio
| Título: | THE IMPACT OF FINANCIAL CONDITIONS ON THE ACTIVITY AND ITS RELEVANCE IN THE TRANSMISSION OF MONETARY POLICY | ||||||||||||
| Autor: |
SARAH CAROLINE VALCACIO CAMPOS |
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| Colaborador(es): |
TIAGO COUTO BERRIEL - Orientador |
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| Catalogação: | 30/DEZ/2020 | Língua(s): | PORTUGUESE - BRAZIL |
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| Tipo: | TEXT | Subtipo: | THESIS | ||||||||||
| Notas: |
[pt] Todos os dados constantes dos documentos são de inteira responsabilidade de seus autores. Os dados utilizados nas descrições dos documentos estão em conformidade com os sistemas da administração da PUC-Rio. [en] All data contained in the documents are the sole responsibility of the authors. The data used in the descriptions of the documents are in conformity with the systems of the administration of PUC-Rio. |
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| Referência(s): |
[pt] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=51076&idi=1 [en] https://www.maxwell.vrac.puc-rio.br/projetosEspeciais/ETDs/consultas/conteudo.php?strSecao=resultado&nrSeq=51076&idi=2 |
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| DOI: | https://doi.org/10.17771/PUCRio.acad.51076 | ||||||||||||
| Resumo: | |||||||||||||
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The aim of this study is to analyze the effect of financial conditions on economic activity and to understand their role in the transmission of monetary policy. Our evidence suggests that, in the case of the United States, a tightening of financial conditions has an effect very similar to a contractionary interest rate shock. Despite this, when controlling the interest rate for the FCI, the results indicate that monetary policy innovations does not operate through financial conditions. Such a conclusion, however, can t be generalized to other
countries. We find that, in the case of Canada, financial conditions are relevant to the transmission of monetary policy, since the effect of an interest rate shock on industrial production and inflation after controlling for financial conditions, is practically nil.
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