A teoria da credibilidade da política monetária
By: MENDONÇA, Helder Ferreira de
.
Material type: 
ArticlePublisher: São Paulo : Editora 34, jul./set. 2002Revista de Economia Política = Brazilian Journal of Political Economy 22, 3 , p. 46-64Abstract: This paper analyzes the main arguments concerning credibility theory for monetary authority from the mainstream literature. In this sense, the origin of the debate entitled rules versus discretion is examined and the advances in literature from the central bank independence proposal. The findings denote that the problem of the inflationary bias for conduction of monetary policy is a result of a set of ad hoc hypothesis used by the literature. Thus, the developments in the literature concerning the credibility from inflationary bias represent a particular case for monetary theory
This paper analyzes the main arguments concerning credibility theory for monetary authority from the mainstream literature. In this sense, the origin of the debate entitled rules versus discretion is examined and the advances in literature from the central bank independence proposal. The findings denote that the problem of the inflationary bias for conduction of monetary policy is a result of a set of ad hoc hypothesis used by the literature. Thus, the developments in the literature concerning the credibility from inflationary bias represent a particular case for monetary theory
v. 22, n. 3(87)
Click on an image to view it in the image viewer
There are no comments for this item.