direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as …

This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that … has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation … targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little …

-fledged inflation targeting, (vi) implicit price stability anchor, and (vii) inflation targeting lite. This taxonomy captures the … financial and economic development and recent inflation history. …

high interest rate levels in the aftermath of Brazil's 1994 inflation stabilization. However, since the adoption in 1999 of … inflation targeting and floating exchange rates, Brazil's real interest rates are gradually converging to the model's predicted …