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Sticky inflationary expectations and inflation targeting in (some) emerging and less developed economies
Expectativas de inflación “pegajosas” y metas de inflación en (algunos) países emergentes y de menor desarrollo
Expectativas de estagflação e metas de inflação em (alguns) países emergentes e menos desenvolvidos
DOI:
https://doi.org/10.15446/cuadecon.v40n82.79547Palabras clave:
Inflation Targeting, Expected Inflation, Taylor-Rules. (en)metas de inflação, inflação esperada, regras de Taylor (pt)
metas de inflación, inflación esperada, reglas de Taylor (es)
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We describe the experience of some economies that struggle to consolidate Inflation Targeting. We document the resilience of inflationary expectations during the first years after adoption by Israel, Brazil, Guatemala, Mexico, South Africa, and Turkey. The benchmark case of New Zealand is also described, and the experience of Argentina is presented as one of the few examples where Inflation Targeting failed and was eventually abandoned.
En este artículo se describe la experiencia de algunas economías que lucharon por consolidar metas de inflación. Se documenta la resiliencia de las expectativas de inflación durante los primeros años en Israel, Brasil, Guatemala, México, Sudáfrica y Turquía. Los casos de Nueva Zelandia y Argentina —donde las metas fracasaron— se analizaron con fines comparativos.
Neste artigo descreve-se a experiência de algumas economias que lutaram para consolidar metas de inflação. Documenta-se a resiliência das expectativas de inflação durante os primeiros anos em Israel, Brasil, Guatemala, México, África do Sul e Turquia. Os casos da Nova Zelândia e Argentina—onde as metas falharam— foram analisados para fins comparativos.
Referencias
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