Ajustamento externo, financeirização dos preços e inflação [External adjustment, 'financially-based price formation', and inflation]

Otaviano Canuto () and Antonio José Meirelles ()
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Otaviano Canuto: Universidade de São Paulo - USP
Antonio José Meirelles: Universidade Estadual de Campinas - Unicamp

Nova Economia, 2001, vol. 11, issue 2, pages 31-50

Abstract: This paper develops a simple structuralist model to deal with the relationships between inflation and external adjustment policies in foreign-indebted economies facing strong reversals in capital inflows. Taking Latin American experiences in the eighties as a reference, the model attempts to systematize the so-called hypothesis of 'financially- based price formation', namely, the regime of price formation through which both real interest rates and inflation rates moved together upwards as a response to increasing pressures for transfer abroad of real resources as a means of debt servicing.

Keywords: structuralist macroeconomics; inflation; external adjustment (search for similar items in EconPapers)
JEL-codes: E31 E40 E63 F32 (search for similar items in EconPapers)
Date: 2001
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