IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/41405.html
   My bibliography  Save this paper

El Régimen de Metas de Inflación en Brasil: Breve Descripción y Evaluación de su Desempeño
[Brazil's Inflation Targeting Regime: Brief Description and Evaluation of its Performance]

Author

Listed:
  • Victor, Olivo

Abstract

This paper presents a brief description of the operation of Brazil's Inflation Targeting regime, and an evaluation of its performance since its introduction in June 1999 until 2006.The performance of the regime is evaluated comparing the observed inflation values with the officially announced targets and estimating Taylor and McCallum rules. The regime exhibits large and persistent deviations of the inflation rate with respect to the targets;the Taylor and McCallum rules indicate a weak response of the monetary authorities to deviations of the inflation rate from the target values.

Suggested Citation

  • Victor, Olivo, 2007. "El Régimen de Metas de Inflación en Brasil: Breve Descripción y Evaluación de su Desempeño
    [Brazil's Inflation Targeting Regime: Brief Description and Evaluation of its Performance]
    ," MPRA Paper 41405, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:41405
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/41405/1/MPRA_paper_41405.pdf
    File Function: original version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Mario I. Blejer & Alfredo M. Leone & Pau Rabanal & Gerd Schwartz, 2002. "Inflation Targeting in the Context of IMF-Supported Adjustment Programs," IMF Staff Papers, Palgrave Macmillan, vol. 49(3), pages 1-2.
    2. Scott Roger & Mark R. Stone, 2005. "On Target? the International Experience with Achieving Inflation Targets," IMF Working Papers 05/163, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Monetary policy; inflation targeting; interest rate; Taylor rule; McCallum rule;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:41405. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter). General contact details of provider: http://edirc.repec.org/data/vfmunde.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.