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 …

This paper analyzes inflation targeting, focusing on the interest-price transmission mechanism. The authors discuss the … recent performance of the retail industry in Brazil, highlighting how monetary policy affects prices, both directly and … component of the prices formed in the Brazilian retail industry. The big risk of inflation targeting, on the one side, is to …

Interest rate, exchange rate and the system of inflation target in Brazil. In the consensus view of the Brazilian … system of inflation targeting, the core of inflation is due to demand shocks; the rate of interest is set to control demand … core inflation comes from cost push; the interest rate affects the exchange rate; changes in the exchange rate affect costs …

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

we try to identify the main factors that contributed to it, with a focus on Brazil. We estimate an interval for Brazil … highly sensitive to inflation and output variations …