Graphical interpretation of adjustment program costs

Jairo Abud ()

Brazilian Journal of Political Economy, 1992, vol. 12, issue 4, 591-598

Abstract: This work is based on a Bresser-Pereira’s paper, in which he proposes to representthe liquid costs of an economic adjustment applied upon a country. For that study heused a graphic tool. Generally speaking, we may say that there are two situations: the firstone occurs when the country ‘s government decides to apply the adjustments and reformsas soon as distortions appear. The second one happens when the government, in spite of theevidences, muddling through reforms, waits for a society consensus. To illustrate this twodifferent cases, Mexico and Argentina were chosen. Although the graphic tried to show thetransitional costs of adjustment, it is possible to deduce other interesting things – basis ofthis work. JEL Classification: E31.

Keywords: Stabilization; inflation (search for similar items in EconPapers)
Date: 1992
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