The aim of this paper is to apply two indexes for measuring the credibility of the inflation targeting in Brazil and to analyze their outcomes. The findings denote that the framework adopted for this monetary regime in Brazil is not adequate for building credibility. (Rev Econ Pol/DÜI)

This paper builds on earlier studies of central bank independence (CBI), making a comparison of the rankings of central banks for 15 countries through three different indices. The analysis reveals that there is no shared concept of CBI and that the indices are a measure of the inflation bias....