Thiago Veloso, Roberto Meurer, Sérgio Da Silva
Abstract
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We make a case for the usefulness of an optimal control approach for the central banks’ choice of interest rates in inflation target regimes. We illustrate with data from selected developed and emerging countries with longest experience of inflation targeting.
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We make a case for the usefulness of an optimal control approach for the central banks’ choice of interest rates in inflation target regimes. We illustrate with data from selected developed and emerging countries with longest experience of inflation targeting.
Key concepts: Inflation (cosmology), Inflation targeting, Economics, Control (management), Controller (irrigation), Monetary economics, Econometrics, Real interest rate