Fraga, Arminio; Goldfajn, Ilan; Minella, Andre - 2021
This paper assesses inflation targeting in emerging market economies (EMEs), and develops applied prescriptions for the … conduct of monetary policy and inflation-targeting design in EMEs. We verify that EMEs have faced more acute trade-offs higher … stable institutions. At an operational level, we propose a procedure that a central bank under inflation targeting can apply …