Accelerating, maintaining and sanctionating factors of inflation

Luiz Carlos Bresser-Pereira () and Yoshiaki Nakano ()

Brazilian Journal of Political Economy, 1984, vol. 4, issue 1, 3-19

Abstract: In order to understand inflation or stagflation in present-day oligopolistic capitalism,it is necessary to distinguish the accelerating, maintaining and sanctionating factorsof inflation. Four are the accelerating factors: change in profit margins, change in real wagesabove (or below) productivity, changes in the real exchange rate, and in the costs of imports.The basic maintaining factors are formal and informal indexation of the economy and markuppricing. Given an autonomous inflation, that is, independent of sustained demand or fullemployment, the fundamental sanctionating factor of inflation will be the money supply. JEL Classification: E31; E12.

Keywords: Inflation; stabilization (search for similar items in EconPapers)
Date: 1984
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