SCHEME TO INFLATION TARGETS IN BRAZIL AND THE NEW CLASSICAL SCHOOL: A CRITICAL POST-KEYNESIAN

Raphael Calil de Souza () and José Caio Racy ()
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Raphael Calil de Souza: Universidade Presbiteriana Mackenzie (UPM)
José Caio Racy: Universidade Presbiteriana Mackenzie (UPM).

Revista de Economia Mackenzie (REM), 2013, vol. 11, issue 1, 111-153

Abstract: This paper aims to identify and describe the new-classics, which area considered to be the creators of the inflation targeting model and to criticize its adoption in Brazil through a post keynesian augmentation. The analysis will be specific for the Brazilian Model starting at its implementation on 1999, with more focus on President Fernando Henrique Cardoso’s government. The matters of independency versus autonomy of the Country’s central Bank, a theoretical discussion regarding the execution of the monetary policy and its relationship with the success of the proposed plan and an overview of the post keynesian scholars and its ideas regarding monetary policies will be discussed as it follows.

Keywords: Inflation targeting; Central Bank Independency; Economic estability. (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:aft:journl:v:11:2:may:aug:2013:p:111-153

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