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Advisor(s)
Abstract(s)
O regime de il!flation talgeting tem vindo a constituir, ao longo dos últimos anos, uma
alternativa de condução da política monetária cuja popularidade, quer a um nível mais
teórico, quer através da sua aplicação a um crescente número de países, merece análise. Ao
longo deste trabalho procurar-se-ão encontrar as razões que possam justificar a opção por
um regime desta natureza, num estudo que abordará essencialmente a descrição das suas
principais características, mas que igualmente analisará a evolução quer académica, quer no
que à sua real aplicação prática diz respeito, que o tratamento do próprio fenómeno
inflacionista tem vindo a sofrer desde a década de 70 aos nossos dias. Será dado principal
destaque à questão da inconsistência temporal da política monetária e, por essa via, ao
enviesamento inflacionista que dela decorre, apresentando-se as principais soluções que
têm sido propostas para a sua resolução, nomeadamente as que com o regime de inflation
ta/xelins mais directamente se relacionam.
O trabalho em causa opta por seguir uma abordagem revisionista, citando as opiniões de
vários autores sobre os diversos temas em debate, tentando desta forma albergar um vasto
conjunto de questões, procurando, se for caso disso, analisar em cada uma delas as
diferentes perspectivas em disputa.
Inflation targeting has become, through the years, an alternative way of conduction of monetary policy whose popularity, both in a theoreácían levei, and through its application in a growing number of countries, deserves to be analyzed. Through this work, Ill try to Emd out the reasons which can justify the option for a regime of this nature, in a study that will essentially approach a description of its main features, but that will also analyze the academic and practical evolution which the inflationary phenomenon has been sufféring from the 70's unál today. It will be given main attention to the question of the time inconsistency of monetary policy and to the inflation bias that elapses from it, presenting the main solutions that have been proposed for its resolution, especially the ones most direcdy related to the inflation targeáng regime. This work opts to follow a revisionist boarding, citing the opinions of some authors on the diverse subjects in debate, trying to gather a vast set of questions and seeking, if that's the case, to analyze in each of them the different perspectives in dispute.
Inflation targeting has become, through the years, an alternative way of conduction of monetary policy whose popularity, both in a theoreácían levei, and through its application in a growing number of countries, deserves to be analyzed. Through this work, Ill try to Emd out the reasons which can justify the option for a regime of this nature, in a study that will essentially approach a description of its main features, but that will also analyze the academic and practical evolution which the inflationary phenomenon has been sufféring from the 70's unál today. It will be given main attention to the question of the time inconsistency of monetary policy and to the inflation bias that elapses from it, presenting the main solutions that have been proposed for its resolution, especially the ones most direcdy related to the inflation targeáng regime. This work opts to follow a revisionist boarding, citing the opinions of some authors on the diverse subjects in debate, trying to gather a vast set of questions and seeking, if that's the case, to analyze in each of them the different perspectives in dispute.
Description
Mestrado em Economia Monetária e Financeira
Keywords
política monetária inflação regras discricionariedade enviesamento inflacionista inflation talgeting monetary policy inflation rules discretion inflation bias
Pedagogical Context
Citation
Martins, Pedro Miguel Casimiro Moreira (2002). “Do enviesamento inflacionista ao inflation targeting : uma revisão da literatura”. Dissertação de Mestrado. Universidade Técnica de Lisboa. Instituto Superior de Economia e Gestão
Publisher
Instituto Superior de Economia e Gestão