adoption of the inflation targeting regime in Brazil. The BCB`s reaction function has some features that corroborate the thesis … floor; and b) is inattentive to the state of the economy (the inflation and output gaps), and expresses an excessive …

reasoning, inflation target monetary policy regimes are criticized, in particular the one adopted in post-1999 balance of …

increasing transparency in the conduction of the monetary policy. After the adoption of inflation targeting in Brazil there was …

and interest rate (Selic and Selic discounted the inflation calculated by IPCA) are independent. Under the regime of … inflation targeting, this account suggests that the high exchange rate volatility in Brazil may be related to the monetary …