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Transparência, condução da política monetária e metas para inflação [Transparency, monetary policy and inflation goals]

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Author Info

  • Helder Ferreira de Mendonça

    ()
    (UFF)

Abstract

Given that several countries have adopted inflation targeting, and that the main objective of this regime is to function as a guide for the inflationary expectations of economic agents, transparency in the handling of the monetary policy becomes a prerequisite for the success of this regime. This paper presents a survey of the evolution in the theoretical and empirical research concerning transparency in handling monetary policy. The main conclusion suggests that transparency must be understood as a mechanism that, if used in correctly, can favor a rise in credibility in the handling of monetary policy.

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Bibliographic Info

Article provided by Economics Department, Universidade Federal de Minas Gerais (Brazil) in its journal Nova Economia.

Volume (Year): 16 (2006)
Issue (Month): 1 (January-April)
Pages: 175-198

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Handle: RePEc:nov:artigo:v:16:y:2006:i:1:p:175-198

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Keywords: transparency; monetary policy; expectations; credibility;

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