Arestis, Philip de Paula, Luiz Fernando Rodrigues Ferrari-Filho, Fernando
Year of Publication:
Working papers // The Levy Economics Institute 544
The purpose of this paper is to examine inflation targeting (IT) in emerging countries by concentrating essentially on the case of Brazil. The IT monetary policy regime has been adopted by a significant number of countries. While the focus of this paper is on Brazil, which began inflation targeting in 1999, we also examine the experience of other countries, both for comparative purposes and for evidence of the extent of this new economic policy's success. In addition, we compare the experience of Brazil with that of non-IT countries, and ask the question of whether adopting IT makes a difference in the fight against inflation.
Monetary policy inflation targeting Brazil emerging economies