Empirical Findings on Inflation Expectations in Brazil: a survey

Produced by: 
Banco Central do Brasil
Available from: 
September 2017
Paper author(s): 
Wagner Piazza Gaglianone
Topic: 
Macroeconomics - Economic growth - Monetary Policy
Year: 
2017

This paper provides a collection of empirical findings and stylized facts about inflation expectations in Brazil. A set of 23 papers selected ad hoc from the literature is employed in order to provide a concise overview of several aspects of these expectations, such as disagreement, forecast bias, role of information, epidemiology, driving-forces of the inflation expectations’ formation process, and credibility of the monetary policy, among others. These findings form a practical guide about inflation expectations in Brazil, which might be useful for policymakers and academics interested in designing forward-looking policy rules as well as developing macroeconomic models for the Brazilian economy.

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