Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?

Detalhes bibliográficos
Autor(a) principal: GONÇALVES,CARLOS EDUARDO SOARES
Data de Publicação: 2004
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Revista de Economia Política
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572004000100030
Resumo: ABSTRACT Some authors have advocated that shifting from fixed exchange rates to floating regimes has not delivered better economic outcomes to developing countries. As the argument goes, pervasive fear of floating in these economies has prevented drops in real interest rates and, more importantly, has been a hindrance in the way towards more monetary policy autonomy. This paper presents evidence suggesting this may not be the case for Brazil. More precisely, there are signs that fear of floating was less acute here (presumably due to low exchange rate pass-through) than elsewhere, and also that policymakers are now targeting monetary policy principally to domestic objectives.
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spelling Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?Exchange ratefloating exchange ratemonetary policyABSTRACT Some authors have advocated that shifting from fixed exchange rates to floating regimes has not delivered better economic outcomes to developing countries. As the argument goes, pervasive fear of floating in these economies has prevented drops in real interest rates and, more importantly, has been a hindrance in the way towards more monetary policy autonomy. This paper presents evidence suggesting this may not be the case for Brazil. More precisely, there are signs that fear of floating was less acute here (presumably due to low exchange rate pass-through) than elsewhere, and also that policymakers are now targeting monetary policy principally to domestic objectives.Centro de Economia Política2004-03-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572004000100030Brazilian Journal of Political Economy v.24 n.1 2004reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/0101-31572004-1636info:eu-repo/semantics/openAccessGONÇALVES,CARLOS EDUARDO SOARESeng2020-06-15T00:00:00Zoai:scielo:S0101-31572004000100030Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2020-06-15T00:00Revista de Economia Política - EDITORA 34false
dc.title.none.fl_str_mv Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
title Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
spellingShingle Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
GONÇALVES,CARLOS EDUARDO SOARES
Exchange rate
floating exchange rate
monetary policy
title_short Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
title_full Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
title_fullStr Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
title_full_unstemmed Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
title_sort Monetary policy independence and floating exchange rates: what does the Brazilian evidence tell us?
author GONÇALVES,CARLOS EDUARDO SOARES
author_facet GONÇALVES,CARLOS EDUARDO SOARES
author_role author
dc.contributor.author.fl_str_mv GONÇALVES,CARLOS EDUARDO SOARES
dc.subject.por.fl_str_mv Exchange rate
floating exchange rate
monetary policy
topic Exchange rate
floating exchange rate
monetary policy
description ABSTRACT Some authors have advocated that shifting from fixed exchange rates to floating regimes has not delivered better economic outcomes to developing countries. As the argument goes, pervasive fear of floating in these economies has prevented drops in real interest rates and, more importantly, has been a hindrance in the way towards more monetary policy autonomy. This paper presents evidence suggesting this may not be the case for Brazil. More precisely, there are signs that fear of floating was less acute here (presumably due to low exchange rate pass-through) than elsewhere, and also that policymakers are now targeting monetary policy principally to domestic objectives.
publishDate 2004
dc.date.none.fl_str_mv 2004-03-01
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=S0101-31572004000100030
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572004000100030
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0101-31572004-1636
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.24 n.1 2004
reponame:Revista de Economia Política
instname:EDITORA 34
instacron:EDITORA_34
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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
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