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

Helder Ferreira de Mendonça ()

Nova Economia, 2006, vol. 16, issue 1, pages 175-198

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.

Keywords: transparency; monetary policy; expectations; credibility (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2006

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