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Carlos Viana de Carvalho

Head of Research, Kapitalo Investimentos, Brazil

Carlos Viana de Carvalho

Residency Dates: Jan. 17-27, 2023

Public Talk

Anchoring of Inflation Expectations: Do Inflation Expectations Matter?
Jan. 25, 2023 | Video
In this talk, Carlos Viana de Carvalho, who served as the deputy governor of the Central Bank of Brazil (2016-2019), provided his insight on how to manage inflation and what goes into public expectations of future price changes. He also discussed how central banks manage inflation.


Carlos Viana de Carvalho was formerly the deputy governor of the Central Bank of Brazil (2016-2019). Prior to that, he was a partner at Kyros Investments (2011-2015), and an economist at the Federal Reserve Bank of New York (2007-2010). 

Currently, Viana de Carvalho is the head of research and a partner at Asset 1 Investment Company and an associate professor in the Department of Economics at Pontifica Catholic University-Rio.  

He is an expert in macroeconomics and monetary policy, with more than 30 published papers, book chapters and other writings. His most recent include “Sectoral Price Facts in a Sticky-Price Model,” (with Jae Won Lee and Woong Yong Park, forthcoming in the American Economic Journal: Macroeconomics) and “Macroeconomic Effects of Credit Deepening in Latin America,” (with Nilda Pasca, Laura Souza and Eduardo Zilberman, accepted in the Journal of Money, Credit and Banking). 

Viana de Carvalho continues to participate in ambitious research projects, with a variety of working papers in progress covering topics such as multi-product pricing, anchored inflation expectations and the perils of counterfactual analysis.