Decisão de preços em economias monetárias e metas de inflação: a difícil conciliação entre crescimento e estabilidade de preços
AbstractInflation targeting and price-making in monetary economies: is it possible to conciliate growth with price stability? - Recently a number of countries have adopted explicit inflation targets as a guide for policy since a numerical target is attractive for anchoring inflation expectations. Monetary policy, under inflation targeting, is implemented grounded on handling only one instrument to control inflation ? the interest rate. Nevertheless, the perseverance on using this kind of rule brings negative consequences for the expectations about potential economic growth. Hence, the paper aims at making evident the process of price-making in market economies and discuss how the monetary policy, under inflation targeting, affects positively the process of inflation expectations formation, however with harmful consequences upon expectations regarding the output growth.
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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): 38 (2009)
Issue (Month): (December)
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Inflation targeting; Pricing; Economic development;
Find related papers by JEL classification:
- 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
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