Currency endogeneity, instability and monetary policy

Vol. 11 No. 1 (1991)

Jan-Mar / 1991
Published January 1, 1991
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Silva, Luiz Afonso Simoens da. 1991. “Currency Endogeneity, Instability and Monetary Policy”. Brazilian Journal of Political Economy 11 (1):112-26. https://doi.org/10.1590/0101-31571991-0684.
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Currency endogeneity, instability and monetary policy

Luiz Afonso Simoens da Silva
Banco Central do Brasil e da Fundação Getúlio Vargas – FGV, São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 11 No. 1 (1991), Jan-Mar / 1991, Pages 112-126

Abstract

This paper tries to analyze the scope of a monetary policy in the context of
endogenous money, instability, and capital mobility. It starts with the post Keynesian critique
to the mainstream and concludes with the impotence of the central bank to reach the
stability of prices in Brazil through the use of the classical instruments on monetary policy.

JEL Classification: E31; E51; E52.


Keywords: Money supply monetary policy central bank