Abstract
This paper investigates how external shocks (such as sudden-stops and shocks in terms of trade) affected the Brazilian economy. Therefore we propose a simple theoretical model of cash-in-advance with financial frictions. The model is estimated for the Brazilian economy and the implications for monetary policy are analyzed.
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APA
Teles, V. K., & Mendonçay, D. de P. (2013). Política monetária em tempos de crise. Revista Brasileira de Economia, 67(4), 529–548. https://doi.org/10.1590/S0034-71402013000400008
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