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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References listed on IDEAS
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- Marvin Goodfriend & Robert King, 1997.
"The New Neoclassical Synthesis and the Role of Monetary Policy,"
NBER Chapters,in: NBER Macroeconomics Annual 1997, Volume 12, pages 231-296
National Bureau of Economic Research, Inc.
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- David H. Romer, 2000. "Keynesian Macroeconomics without the LM Curve," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 149-169, Spring.
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- Allsop, Christopher & Vines, David, 2000. "The Assessment: Macroeconomic Policy," Oxford Review of Economic Policy, Oxford University Press, vol. 16(4), pages 1-32, Winter.
- Mark Setterfield, 2006. "Is inflation targeting compatible with Post Keynesian economics?," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 28(4), pages 653-671, July. Full references (including those not matched with items on IDEAS)
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