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Inflation Targeting: Proposals for a Permanent Regime

Author

Listed:
  • Fabio Giambiagi
  • José Carlos Carvalho

Abstract

In 1999 the inflation targeting regime was introduced in Brazil in an environment plenty of uncertainties and relatively high inflation rates. As a consequence, the set of rules that to this day govern the Brazilian regime still lack a strong institutional support. This paper makes some proposals for a permanent inflation targeting regime. In doing so, we discuss how can a greater institutional commitment be achieved with the inflation targeting setup. We also discuss issues on what the permanent inflation target level should be and also how much deviation from the target should be tolerated. Based on these issues, we suggest a set of rules to be adopted in Brazil. JEL Classification: E52; E58.

Suggested Citation

  • Fabio Giambiagi & José Carlos Carvalho, 2002. "Inflation Targeting: Proposals for a Permanent Regime," Brazilian Journal of Political Economy, Center of Political Economy, vol. 22(3), pages 408-428.
    • Handle: RePEc:ekm:repojs:v:22:y:2002:i:3:p:408-428:id:943
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    More about this item

    Keywords

    Monetary policy; inflation; inflation targets;
    All these keywords.

    JEL classification:

    • 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

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