The purpose of this paper is to evaluate the performance of the Central Bank of Brazil's Small-Scale Structural Model … (SSSM) as a supporting tool for the monetary policy decision process. The SSSM's CPI inflation projections accuracy for 1 to … benchmark for short run forecasts. A 'near VAR' model, with quarterly CPI inflation and output gap as the endogenous variables …

In this paper, we study the evolution of inflation expectations for two key emerging economies, Brazil and Turkey … survey-based inflation expectations and inflation targets set by the central banks of Brazil and Turkey with the predictions … inflation expectations are anchored more closely the inflation target set by the Central Bank for Brazil. By contrast, there is …