Helder Ferreira de Mendonça and Cristiane Nascimento de Lima
This paper aims to contribute to the analysis concerning how inflation forecasts from different economic agents (professional forecasters and consumers) lead to varying levels of…
Abstract
Purpose
This paper aims to contribute to the analysis concerning how inflation forecasts from different economic agents (professional forecasters and consumers) lead to varying levels of central bank credibility and how it affects the monetary policy interest rate and its expectations.
Design/methodology/approach
Based on the Brazilian economy data from June 2007 to May 2022, the authors provide evidence that is useful for search mechanisms that improve the conduct of monetary policy through the management of inflation expectations. The authors perform several ordinary least squares and generalized method of moments regressions inspired by the Taylor rule principle. In brief, the benchmark model considers that the monetary policy interest rate and its expectations respond to departures of inflation expectations to the target (a proxy for central bank credibility) and the level of economic activity.
Findings
The main result of the analysis is that inflation expectations from professional forecasters and consumers imply different perceptions of central bank credibility that affect the monetary policy interest rate and expectations for horizons until one year ahead.
Originality/value
The novelty that the authors bring from the analysis is that the authors calculate central bank credibility by taking into account the “public beliefs” of different economic agents. Furthermore, the authors analyze the effect of central bank credibility from professional forecasters and consumers on the monetary policy interest rate and its expectations.
Details
Keywords
Barbara de Lima Voss, David Bernard Carter and Bruno Meirelles Salotti
We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in…
Abstract
We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in the construction of hegemonies in SEA research in Brazil. In particular, we examine the role of hegemony in relation to the co-option of SEA literature and sustainability in the Brazilian context by the logic of development for economic growth in emerging economies. The methodological approach adopts a post-structural perspective that reflects Laclau and Mouffe’s discourse theory. The study employs a hermeneutical, rhetorical approach to understand and classify 352 Brazilian research articles on SEA. We employ Brown and Fraser’s (2006) categorizations of SEA literature to help in our analysis: the business case, the stakeholder–accountability approach, and the critical case. We argue that the business case is prominent in Brazilian studies. Second-stage analysis suggests that the major themes under discussion include measurement, consulting, and descriptive approach. We argue that these themes illustrate the degree of influence of the hegemonic politics relevant to emerging economics, as these themes predominantly concern economic growth and a capitalist context. This paper discusses trends and practices in the Brazilian literature on SEA and argues that the focus means that SEA avoids critical debates of the role of capitalist logics in an emerging economy concerning sustainability. We urge the Brazilian academy to understand the implications of its reifying agenda and engage, counter-hegemonically, in a social and political agenda beyond the hegemonic support of a particular set of capitalist interests.
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Claudio V. Torres, Clerismar Aparecido Longo, Francisco Guilherme L. Macedo and Cristiane Faiad
The authors investigated the effect of basic human values in the prediction of COVID-19 vaccination behavior amongst public security agents in Brazil.
Abstract
Purpose
The authors investigated the effect of basic human values in the prediction of COVID-19 vaccination behavior amongst public security agents in Brazil.
Design/methodology/approach
A sample of 15,313 Brazilian public security agents responded to the portrait values questionnaire and a COVID vaccination behavior measure. Multidimensional scaling analysis (MDS) was used to observe the order of the predicted by the theory. For hypotheses, the authors ran a series of Structural equation modeling (SEM) with direct effects between values and vaccination rate.
Findings
Results suggest that the values of conservation and self-transcendence positively predicted vaccination. A nonsignificative negative prediction was obtained for openness to change and self-enhancement values on vaccination behavior.
Research limitations/implications
Data were collected using self-report questionnaires.
Practical implications
Institutional management should encourage capacitation campaigns aimed at public security agents, enabling a significant increase in vaccine protection for the public security institutions.
Social implications
The reinforcement of conservation and self-transcendence values lead to the perception of the vaccine as a measure of caring for people in general and for the members of the ingroup, hence motivating the vaccination behavior.
Originality/value
The findings confirm that values encourage individuals to be vaccinated, due to their intrinsic motivation. This relationship did not appear to be clearly tested by previous empirical studies.