Transmissão dos efeitos da política monetária sobre o canal de crédito no Brasil: uma síntese pós Plano Real

Abstract

Comprehending the association between the monetary policy and the credit channel in post-Plano Real Brazilian’s economic context, is essential for deciphering the country's financial complexities. Thereby, this study propound an omnibus view of the referred interaction, and its repercussions As a methodological approach, a bibliographic review is embraced, aiming to provide understanding of theories and practices related to the transmission of the monetary policies effects on the credit channel in Brazil. The works will be synthesized, highlighting the macroeconomic variables used and the specific mechanisms that influence the supply and demand for credit." The critical analysis will be guided by the review of studies that address the impacts of monetary policy decisions on the availability and accessibility of credit, considering the distinctive characteristics of the Brazilian financial system. Furthermore, possible interactions between monetary policy, financial stability and the credit channel in Brazil. In anticipation, it is safe to declare that the results of this study offer a synthesis of the conclusions contained within the literature review, highlighting identified trends, perceived gaps and implications for the conduct of monetary policy in Brazil. Therefore, based on the aforementioned premises, it presents itself as a work of utmost relevance for academics, professionals in the financial sector and economic policy makers. Emphasizing as the main result of the study, the importance of the credit channel was highlighted, both from the supply and demand sides, in the transmission of monetary policy since the implementation of the Real Plan.