Política monetária, inflação e crescimento econômico: a influência da reputação da autoridade monetária sobre a economia
AbstractMonetary policy, inflation and economic growth: the influence of the monetary authority?s reputation upon the economy The following paper aims to show that, although a monetary policy, which merely seeks to control inflation through an interest rate rule (under inflation targeting), may reach such a goal, it will present a worst outcome whether compared to a monetary policy which also seeks an output target. The proposed model highlights: the role of expectations, the role of monetary policy through its reaction function in the light of non-neutrality of money hypothesis and, the influence of monetary authority reputation on the economy.
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Bibliographic InfoArticle provided by Instituto de Economia, Universidade Estadual de Campinas (UNICAMP) in its journal Revista Economia e Sociedade.
Volume (Year): 37 (2009)
Issue (Month): (August)
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Reputation; Inflation targeting; Economic growth.;
Other versions of this item:
- Gabriel Caldas Montes & Carmem Aparecida Feijó, 2007. "Política Monetária, Inflação E Crescimento Econômico: A Influência Da Reputação Da Autoridade Monetária Sobre A Economia," Anais do XXXV Encontro Nacional de Economia [Proceedings of the 35th Brazilian Economics Meeting] 069, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Taylor and Francis Journals, vol. 41(10), pages 1215-1227.
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- Marc Lavoie, 2006. "A Post-Keynesian Amendment To The New Consensus On Monetary Policy," Metroeconomica, Wiley Blackwell, vol. 57(2), pages 165-192, 05.
- Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
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