Estudo de políticas monetárias em períodos de choque econômico: a crise do subprime

Abstract

This monograph aims to analyze the role of monetary policy in the country's economic stability during the Subprime crises through a quantitative and methodologicalapproach, which involves the use of time series analysis, and the use of them in the construction of a Model of Autoregressive Vectors (VAR), focusing on Impulse-Response functions (IRF's), through the R programming software. To carry out the same, secondary data made available by the Time Series Generator System of the Central Bank of Brazil were used. Brazil (BACEN), which covers the period from 2005 to 2014, but with a greater focus on the period in which the crisis occurred (from 2007 to 2009). The results obtained indicate that monetary policy was successful in maintaining economic stability in that period.