With close to 30 emerging market and developing economies (EMDEs) using inflation targeting to determine monetary policy, and many of them for over 15 years, it is possible to create a meaningful measure of neutral real interest rates in these economies. The neutral real interest rate provides policymakers with a benchmark for the interest rate at which economic activity reaches its full potential and inflation will stabilize. The deviation of policy...
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2021/06/23
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Documento de trabalho sobre pesquisa de políticas
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WPS9711
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1
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1
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2021/06/23
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Disclosed
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Neutral Real Interest Rates in Inflation Targeting Emerging and Developing Economies
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real interest rate
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