The revenue and the inflation: an interpretation of the Brazilian case

Edmar Lisboa Bacha ()

Brazilian Journal of Political Economy, 1994, vol. 14, issue 1, 1-16

Abstract: Available “fundamentalist” interpretations of Brazilian inflation seem unable toexplain why Brazil has such high rate of inflation with such a small public sector operationaldeficit. An attempt is made to explain this paradox with the use of the concepts of potentialdeficit with zero inflation and the inflationary erosion of budgeted government expenses.The conclusion is that the resolution of the Brazilian inflationary conflict involves the transfer,to local governments or the private sector, of a significant share of the current functionsof the federal government. JEL Classification: E31; H30.

Keywords: Inflation; public expenditure; stabilization (search for similar items in EconPapers)
Date: 1994
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