Plano de metas de inflação e determinação da taxa de juros segundo a regra de Taylor

Abstract

Currency stability is the main goal of a Monetary Authority. This task is not performed simply because the trade-off between inflation and unemployment in the short term, can be conducted in several ways. Experience in other countries, Brazil has made the plan to adopt inflation targeting as a mechanism for pursuing this goal, operating through the interest rate. From the introduction of rational expectations of Lucas (1972), evidenced the need for a rule that would make clear the conduct of monetary policy by the Central Bank in order to increase the credibility of it. Having this goal in mind Taylor (1993), formulated a rule that has become widespread as a function of reaction on the part of decision makers. Try to demonstrate in this work the way the Federal Authority, has been trying to pursue your goal, covering the theoretical framework, and its consequences, which may influence such conduct.