The present text aims to analyze the New Development Bank (NDB) established by BRICS as part of the group’s financial architecture, focusing on the main motivations for its creation, ways of acting and governance structure. Although focused on providing credit for infrastructure and...

In this paper we incorporate the term structure of interest rates in a standard inflation forecast targeting framework.We find that under flexible inflation targeting and uncertainty in the degree of persistence in the economy, allowing for active learning possibilities has effects on the...