Empréstimo consignado e canal do crédito da política monetária: evidências para o Brasil (2007-2019)
The aim of this research is to analyze the performance of monetary policy on payroll loans, through the credit channel, as well as to assess the impacts of payroll loans on the Gross Domestic Product (GDP), monetary policy interest rate (SELIC), and inflation, for the Brazilian economy in the period...
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| Formato: | bachelorThesis |
| Idioma: | pt_BR |
| Publicado em: |
Universidade Federal do Rio Grande do Norte
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| Endereço do item: | https://repositorio.ufrn.br/handle/123456789/41669 |
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| Resumo: | The aim of this research is to analyze the performance of monetary policy on payroll loans, through the credit channel, as well as to assess the impacts of payroll loans on the Gross Domestic Product (GDP), monetary policy interest rate (SELIC), and inflation, for the Brazilian economy in the period of 2007 to 2019. For this purpose, I estimated a VAR model, following Walsh and Wilcox (1995), with the variables: GDP, inflation, SELIC rate, the total balance of payroll loans, and interest rate of payroll loans. Then, I analyzed the impulse-response functions and the variance decomposition of forecast errors. The results indicated the absence of a bank credit channel for the case of payroll loans in the analyzed period. |
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