Article(print) World Affairs Online2006

Efeitos da independência do banco central e da taxa de rotatividade sobre a inflação brasileira

In: Brazilian journal of political economy: Revista de economia política, Volume 26, Issue 4, p. 552-563

Mendonça, Helder Ferreira de

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Abstract

The effects of Central Bank independence and the rate of turnover on the Brazilian inflation. Nowadays, the belief is strong in the Brazilian federal government that operational central bank independence is a basic condition to assure price stability. The literature concerning this subject highlights that a high degree of independence and a low turnover of central bank governor are associated with low inflation. This paper analyzes the relation between central bank independence and inflation in Brazil during 1980-2002. The findings denote that there is no effect on inflation due to an increase in degree of independence and a fall in turnover rate. (Rev Econ Polít/GIGA)

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