Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana
Autor(a) principal: | |
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Data de Publicação: | 2012 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572012000200008 |
Resumo: | Inflation targeting, Taylor rule and money neutrality: a post-Keynesian critic. This paper critically discusses the inflation targeting regime proposed by orthodox economists, in particular the Taylor Rule. The article describes how the Taylor Rule assumes the argument of money neutrality inherited from the Quantitative Theory of Money. It discusses critically the ways of operation of the rule, and the negative impacts of the interest rate over the potential output. In this sense, the article shows the possible vicious circles of the monetary policy when money is not neutral, as is the case for post-keynesian economists. The relation of interest rates, potential output and the output gap is illustrated in some estimates using the methodology of Vector Auto-Regressive in the Brazilian case. |
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Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesianaquantitative theory of moneyTaylor rulepotential outputpostkeynesian criticoutput gapInflation targeting, Taylor rule and money neutrality: a post-Keynesian critic. This paper critically discusses the inflation targeting regime proposed by orthodox economists, in particular the Taylor Rule. The article describes how the Taylor Rule assumes the argument of money neutrality inherited from the Quantitative Theory of Money. It discusses critically the ways of operation of the rule, and the negative impacts of the interest rate over the potential output. In this sense, the article shows the possible vicious circles of the monetary policy when money is not neutral, as is the case for post-keynesian economists. The relation of interest rates, potential output and the output gap is illustrated in some estimates using the methodology of Vector Auto-Regressive in the Brazilian case.Centro de Economia Política2012-06-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572012000200008Brazilian Journal of Political Economy v.32 n.2 2012reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/S0101-31572012000200008info:eu-repo/semantics/openAccessLopes,Mariana de Lourdes MoreiraMollo,Maria de Lourdes RollembergColbano,Fabiano Silviopor2012-06-15T00:00:00Zoai:scielo:S0101-31572012000200008Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2012-06-15T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
title |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
spellingShingle |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana Lopes,Mariana de Lourdes Moreira quantitative theory of money Taylor rule potential output postkeynesian critic output gap |
title_short |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
title_full |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
title_fullStr |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
title_full_unstemmed |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
title_sort |
Metas de inflação, regra de Taylor e neutralidade da moeda: uma crítica pós-keynesiana |
author |
Lopes,Mariana de Lourdes Moreira |
author_facet |
Lopes,Mariana de Lourdes Moreira Mollo,Maria de Lourdes Rollemberg Colbano,Fabiano Silvio |
author_role |
author |
author2 |
Mollo,Maria de Lourdes Rollemberg Colbano,Fabiano Silvio |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Lopes,Mariana de Lourdes Moreira Mollo,Maria de Lourdes Rollemberg Colbano,Fabiano Silvio |
dc.subject.por.fl_str_mv |
quantitative theory of money Taylor rule potential output postkeynesian critic output gap |
topic |
quantitative theory of money Taylor rule potential output postkeynesian critic output gap |
description |
Inflation targeting, Taylor rule and money neutrality: a post-Keynesian critic. This paper critically discusses the inflation targeting regime proposed by orthodox economists, in particular the Taylor Rule. The article describes how the Taylor Rule assumes the argument of money neutrality inherited from the Quantitative Theory of Money. It discusses critically the ways of operation of the rule, and the negative impacts of the interest rate over the potential output. In this sense, the article shows the possible vicious circles of the monetary policy when money is not neutral, as is the case for post-keynesian economists. The relation of interest rates, potential output and the output gap is illustrated in some estimates using the methodology of Vector Auto-Regressive in the Brazilian case. |
publishDate |
2012 |
dc.date.none.fl_str_mv |
2012-06-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572012000200008 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572012000200008 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
10.1590/S0101-31572012000200008 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.32 n.2 2012 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
_version_ |
1754122481094885376 |