Dias, Maria Helena Ambrosio; Teixeira, Anderson Mutter; … - In: Economia : revista da ANPEC 14 (2013) 3/4, pp. 158-170
mechanism for inflation targeting policy. It accounts for the COPOM rotation to examine COPOM's policy credibility. The … about the long run effects. The SVAR results suggest that the turnover of the COPOM board of directors affects inflation … increase their expectations about inflation, resulting in increases of the rate of change of the interest rate level. This …