Central Bank performance in a stable economy: is it desirable to adopt inflation targets in Brazil?
This article deals with the possible adoption of explicit inflation targets by monetaryauthorities in Brazil, following the example of the experiences of New Zealand, Canada,the United Kingdom, Sweden, Finland, Australia and Spain. Inflation targets wouldwork, first, as a coordination device for tho...
| Autores: | , |
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1999 |
| País: | Brasil |
| Recursos: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | portugués |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1061 |
| Acesso em linha: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1061 |
| Access Level: | acceso abierto |
| Palavra-chave: | Metas inflacionárias estabilização banco central política monetária Inflation targets stabilization central bank monetary policy |
| Resumo: | This article deals with the possible adoption of explicit inflation targets by monetaryauthorities in Brazil, following the example of the experiences of New Zealand, Canada,the United Kingdom, Sweden, Finland, Australia and Spain. Inflation targets wouldwork, first, as a coordination device for those involved in the price and wage setting process,and second, as a transparent aim of the monetary policy, whose performance would beevaluated by the adherence of inflation to the targets. The paper shows the motivationsthat explain the adoption of the regime, discusses its theoretical fundamentals, and analyzesthe problems and trade-offs related to its implementation in practice. Finally, based on thetheory and the international experience, some arguments in favour of the adoption of theregime of inflation targets in Brazil are developed. JEL Classification: E52; E58; E43. |
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