Uma análise do repasse incompleto dos preços de bens intermediários importados ao IPCA: uma aplicação com vetores autorregressivos

Abstract

The article aims to analyze the relationship between the rate of intermediate goods prices and imported price index broad consumer (IPCA) during 10 years (2005-2015). To verify this relationship, we used the theoretical model proposed by Campa and Goldberg (2005) and the estimation was made by using autoregressive vectors (VAR). In the approach used here, it is first checked the exchange rate effect on prices of manufactured intermediate goods imported. It is then checked the effect of the prices of manufactured intermediate goods imported on consumer prices. The results suggest that although the devaluation, existing in the period, has positively pressured the IPCA, input prices imported smoothed this exchange pressure on consumer prices.