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Nova Economia

Print version ISSN 0103-6351On-line version ISSN 1980-5381


MENDONCA, Helder Ferreira de. Transparência, condução da política monetária e metas para inflação. Nova econ. [online]. 2006, vol.16, n.1, pp.175-198. ISSN 1980-5381.

Given that several countries have adopted inflation targeting, and that the main objective of this regime is to function as a guide for the inflationary expectations of economic agents, transparency in the handling of the monetary policy becomes a prerequisite for the success of this regime. This paper presents a survey of the evolution in the theoretical and empirical research concerning transparency in handling monetary policy. The main conclusion suggests that transparency must be understood as a mechanism that, if used in correctly, can favor a rise in credibility in the handling of monetary policy.

Keywords : transparency; monetary policy; expectations; credibility.

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