The Banco Central do Brasil's institutional framework after ten years

Brazilian Journal of Political Economy

Emmanuel Carré¹ 

[1] University Paris XIII;

关键词: inflation targeting;    institutional design;    transparency;    interest rate forecasts;   

DOI  :  10.1590/S0101-31572011000400006

来源: DOAJ

【 摘 要 】

The Banco Central do Brazil (BACEN) adopted inflation targeting in 1999. This monetary policy regime originates in institutional design which remains crucial today for the expectations management, and is in permanent evolution. After 10 years, the BACEN institutional framework is assessed, asking if there is still room for improvement. Various institutional procedures are analysed, and lessons are drawn from the international experience of a panel of sixteen countries. Some proposals for the BACEN institutional framework are made.

【 授权许可】

Unknown