Como o Banco Central controla a inflação?

Resumo:

Central banks have a primary task of pursuing price stability. They do so by issuing different forms of money, setting an array of interest rates, producing fiscal revenues, defining the unit of account, and affecting marginal costs of production via credit regulations and other policies. This article surveys the economic theories that justify the central bank’s ability to use these tools to control inflation around a target. It presents alternative approaches as consistent with each other, as opposed to as conflicting ideological camps. Each of them relies on equilibrium forces in different markets within a common dynamic general equilibrium structure.

Fonte: How do central banks control inflation?A guide for the perplexed∗2019