Politica monetaria, inflacao e crescimento economico: a influencia da reputacao da autoridade monetaria sobre a economia
Monetary policy, inflation and economic growth: the influence of the monetary authority?s reputation upon the economy The following paper aims to show that, although a monetary policy, which merely seeks to control inflation through an interest rate rule (under inflation targeting) may reach such a goal, it will present a worst outcome whether compared to a monetary policy which also seeks an output target. The proposed model highlights: the role of expectations, the role of monetary policy through its reaction function in the light of non neutrality of money hypothesis and, the influence of monetary authority reputation on the economy.