Estimating the Neutral Real Interest Rate of the Brazilian Economy in the Post-Inflation Period

This paper aims to estimate the neutral real interest rate of Brazilian economy, a variable that, despite not being explicitly observable, is extremely important in economic policy discussions. In order do so, after brief literature review and an exposition method used herein, estimations were performed via two different methods: Hodrick-Prescott filter structural VAR model. After these estimates made, we combined both, resulting single for rate. The strategy combining both methods was adopted because each one has profile captures information, making them complementary, addition returning smoother reducing uncertainty inherent estimating latent such as interest. main results this study revealed that it possible affirm significantly reduced period which Alexandre Tombini head Central Bank, suggesting its management marked by discretionary conduct monetary policy.