Política monetária, inflação e crescimento econômico: a influência da reputação da autoridade monetária sobre a economia
Monetary 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.
Volume (Year): 37 (2009)
Issue (Month): (August)
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