gap coefficient is higher in the recessionary regime than in the normal one. The estimate of the inflation coefficient …

regime. Notably, the estimate of the inflation coefficient satisfies the Taylor principle in both regimes. These results are …

gap coefficient is higher in the recessionary regime than in the normal one. The estimate of the inflation coefficient …

This paper assesses the first three years of the inflation-targeting regime in Brazil adopted in July 1999. The … inflation-targeting framework has shown to be highly important for the macroeconomic stabilization. We stress three important … following results: i) the inflation targets have worked as an important coordinator of expectations; ii) the Central Bank has …

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 …

results indicate that the fiscal deficit is statistically significant and affects the inflation rate indirectly via output gap …. Furthermore, the results also suggest a perverse effect of the interest rate on the exchange rate and on inflation. In this …

-term interest rates. A rolling, reduced form, vector autoregression of interest rates, unemployment and inflation rates is employed … manner to unemployment and inflation innovations. However, when the group of inflation targeting countries are separately …

when the gap between observed inflation and the inflation target (lagged once) is positive, but it does not reduce the Bank … inflation target rather than in reducing inflation excessively. The forecasting performance of the model, both within and beyond …

consistent with the official monetary policy. Second, we seek to shed light on the inflation process of these countries. To this … end, we carry out an estimation of an open economy Philips curve (PC). Our main finding is that inflation rates were not … monetary arrangements for price stability. The analysis of the conditional inflation variance obtained from GARCH estimation of …