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Type: Artigo de periódico
Title: Metas de inflação: lições da era Greenspan
Title Alternative: Inflation targets: lessons from the Greenspan era
Author: Deos, Simone Silva de
Andrade, Rogério P. de
Abstract: This paper approaches the experience of monetary policy in the Greenspan period and suggests what lessons could be learnt. The adoption of inflation targeting would denote a step backward in the policymaking process in the USA, for, since the 1980s, a distinctive feature is flexibility of response to adjust to unexpected events and changing environments. The Fed was able to exercise an informed judgement in critical situations and this opens the case for the importance of not restraining policymakers' actions through the adoption of tight rules. Furthermore, that the various experiences with inflation targeting are indisputably huge successes, and that this framework represents the state of the art (therefore nothing else can alternatively be done), remains to be seen.
Subject: inflation targeting
monetary policy
central banking
Editor: Editora 34
Rights: aberto
Identifier DOI: 10.1590/S0101-31572009000300006
Date Issue: 1-Sep-2009
Appears in Collections:Artigos e Materiais de Revistas Científicas - Unicamp

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