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  • Inflation targeting under fiscal fragility 

    Araújo, Aloísio Pessoa de; Santos, Rafael; Lins, Paulo de Carvalho; Valk, Serge de
    2020-07
    Indebted policymakers have a limited budget and are subject to inflationary shocks forcing them to either (i) increase interest rate to have inflation on the pre-announced target or (ii) accept higher inflation. We model ...