01218naa a2200181 a 450000100080000000500110000800800410001910000220006024501300008226000090021252006210022165300260084265300280086865300260089670000220092270000220094477300700096618571602020-03-05       2007    bl uuuu     u00u1 u    #d1 aALMEIDA, C. L. de  aOptimal monetary rules in a context of fiscal disequilibriumbevidence from Brazil (1996:I to 2007:I).h[electronic resource]  c2007  aThis paper aims to derive an optimal monetary policy rule in a context of fiscal disequilibrium. We analyze the transmission channels of the fiscal and monetary policies through estimation of a Philips curve and the fiscal IS curve. The results indicate that the fiscal deficit is statistically significant and affects the inflation rate indirectly via output gap. Furthermore, the results also suggest a perverse effect of the interest rate on the exchange rate and on inflation. In this context, we found empirical evidence that the Brazilian economy shows a non-Ricardian regime for the period 1996: I to 2007: I.  aFiscal desequilibrium  aFiscal dominance regime  aOptimal monetary rule1 aSOUZA, G. da S. e1 aMOREIRA, T. B. S.  tEconomia e Desenvolvimento, Recifegv. 7, n. 1. p. 123-137, 2007.