Independência do banco central e coordenação de políticas : Vantagens e desvantagens de duas estruturas para estabilização
By: MENDONÇA, Helder Ferreira de
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ArticlePublisher: São Paulo : Editora 34, jan./mar. 2003Revista de Economia Política = Brazilian Journal of Political Economy 23, 1 , p. 109-120Abstract: Nowadays, the orthodox conventional wisdom believes that the adoption of an independent central bank improves the alignment of fiscal policy with monetary policy, and thus, increases the coordination between fiscal and monetary authorities. However, the idea of coordination cannot be reduced to this. This paper makes a brief analysis concerning the advantages and disadvantages that belong to the independence of the central bank proposition and coordination between monetary and fiscal policies. The findings denote that the coordination of policies is a better framework to achieve the several macroeconomic goals
Nowadays, the orthodox conventional wisdom believes that the adoption of an independent central bank improves the alignment of fiscal policy with monetary policy, and thus, increases the coordination between fiscal and monetary authorities. However, the idea of coordination cannot be reduced to this. This paper makes a brief analysis concerning the advantages and disadvantages that belong to the independence of the central bank proposition and coordination between monetary and fiscal policies. The findings denote that the coordination of policies is a better framework to achieve the several macroeconomic goals
Revista de Economia Política
Janeiro-Março 2003
v. 23, n. 1(89)
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