Inflation targeting in Brazil: shocks, backward-looking prices, and IMF conditionality
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Date
2002
Journal Title
Journal ISSN
Volume Title
Publisher
Banco Central de Chile
Abstract
Description
In mid-January 1990, Brazil abandoned its crawling exchange rate band. Surprisingly enough, the country's economic performance in the aftermath of this episode was much better than expected, given the performance of other emerging market economies after a move toward floating. Despite the large devaluation of the domestic currency that followed the regime shift, gross domestic product grew 0.8 percent in 1999 and 4.5 percent in 2000.
Keywords
INFLACIÓN, FONDO MONETARIO INTERNACIONAL, TIPO DE CAMBIO, PRODUCTO INTERNO BRUTO