The transmission mechanism of monetary policy in a stabilizing economy: notes on the case of Brazil
Abstract
This note presents some considerations about the difficulty to understand the
transmission mechanism of monetary policy. This difficulty becomes even more accentuate
in case of economies experiencing a change in an environment from high to low rates of
inflation, with an analysis to the Brazilian case.
JEL Classification: E52; E58.
Keywords: Monetary policy inflation stabilization exchange rate