<title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting
<abstract language="eng">This work aims at presenting the challenges that inflation targeting central banks may face since uncertainties represent a harmful element for the effectiveness of monetary policy, and since financial instabilities may disturb the transmission mechanisms - i...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Editora 34
2010-03-01
|
| Series: | Brazilian Journal of Political Economy |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572010000100006 |
| _version_ | 1818253823451332608 |
|---|---|
| author | Gabriel Caldas Montes |
| author_facet | Gabriel Caldas Montes |
| author_sort | Gabriel Caldas Montes |
| collection | DOAJ |
| description | <abstract language="eng">This work aims at presenting the challenges that inflation targeting central banks may face since uncertainties represent a harmful element for the effectiveness of monetary policy, and since financial instabilities may disturb the transmission mechanisms - in particular, the expectation channel - and thus the economic stability. Financial stability must not be considered as a simple goal of monetary policy, but a precondition for central banks operate their policies and reach the goals of inflation and output stability. The work identifies different sources of uncertainties that surround central banks' decisions; and approaches the role that inflation targeting central banks should play according to some basic principles that can serve as useful guides for central banks to help them achieve successful outcomes in their conduct of monetary policy. |
| first_indexed | 2024-12-12T16:46:12Z |
| format | Article |
| id | doaj.art-713de225cd6a4ea4a436be74b787ae6c |
| institution | Directory Open Access Journal |
| issn | 0101-3157 1809-4538 |
| language | English |
| last_indexed | 2024-12-12T16:46:12Z |
| publishDate | 2010-03-01 |
| publisher | Editora 34 |
| record_format | Article |
| series | Brazilian Journal of Political Economy |
| spelling | doaj.art-713de225cd6a4ea4a436be74b787ae6c2022-12-22T00:18:27ZengEditora 34Brazilian Journal of Political Economy0101-31571809-45382010-03-013018911110.1590/S0101-31572010000100006<title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targetingGabriel Caldas Montes<abstract language="eng">This work aims at presenting the challenges that inflation targeting central banks may face since uncertainties represent a harmful element for the effectiveness of monetary policy, and since financial instabilities may disturb the transmission mechanisms - in particular, the expectation channel - and thus the economic stability. Financial stability must not be considered as a simple goal of monetary policy, but a precondition for central banks operate their policies and reach the goals of inflation and output stability. The work identifies different sources of uncertainties that surround central banks' decisions; and approaches the role that inflation targeting central banks should play according to some basic principles that can serve as useful guides for central banks to help them achieve successful outcomes in their conduct of monetary policy.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572010000100006uncertaintiesinflation targetingmonetary policyfinancial stability |
| spellingShingle | Gabriel Caldas Montes <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting Brazilian Journal of Political Economy uncertainties inflation targeting monetary policy financial stability |
| title | <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting |
| title_full | <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting |
| title_fullStr | <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting |
| title_full_unstemmed | <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting |
| title_short | <title language="eng">Uncertainties, monetary policy and financial stability: challenges on inflation targeting |
| title_sort | title language eng uncertainties monetary policy and financial stability challenges on inflation targeting |
| topic | uncertainties inflation targeting monetary policy financial stability |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572010000100006 |
| work_keys_str_mv | AT gabrielcaldasmontes titlelanguageenguncertaintiesmonetarypolicyandfinancialstabilitychallengesoninflationtargeting |