A política monetária recentealguns aspectos críticos

Resumo

This article aims to present an overview of the present practice of monetary policy, known as “simple monetary rules”. It will discuss the historical context in which this framework firstly appeared, and its implications, specially that the money supply is endogenous, being assumed a dependent variable, and not an independent one as supposed by traditional monetarism. The new doctrine makes, too, the extreme assumption that although monetary policy is effective in the short run it is neutral in the long run. This hypothesis as well as its policy implications may be subject to several criticisms which will be developed along this work.

Ficha do documento

Tipo

Estudo

Ano

2004

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Não informado

Identificador

oai:repositorio.fgv.br:10438/1975

Temas

Economia

Palavras-chave

Inflation targetsEndogenous moneyInterest rateLong run neutrality of moneyNeutralidade monetária a longo prazoMoeda endógenaTaxas de jurosMetas inflacionáriasE0E5E52Economia