Política monetária, inflação e crescimento econômico: a influência da reputação da autoridade monetária sobre a economia

Gabriel Montes

Revista Economia e Sociedade, 2009, vol. 37, 23

Abstract: 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.

Keywords: Reputation; Inflation targeting; Economic growth. (search for similar items in EconPapers)
JEL-codes: E31 E52 E58 E61 (search for similar items in EconPapers)
Date: 2009
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Working Paper: POLÍTICA MONETÁRIA, INFLAÇÃO E CRESCIMENTO ECONÔMICO: A INFLUÊNCIA DA REPUTAÇÃO DA AUTORIDADE MONETÁRIA SOBRE A ECONOMIA (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:euc:ancoec:v:37:y:2009:p:237-259

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