The Brazilian inflation: lessons and perspectives

Mário Henrique Simonsen ()

Brazilian Journal of Political Economy, 1985, vol. 5, issue 4, 487-503

Abstract: This article develops the idea that the three basic theories of inflation (the monetary,the fiscal, and the inertial) complement one another. This interpretation brings abouttwo important policy issues: first, the necessity of the coordination between fiscal and monetarypolicy; and second, the necessity of the synchronization of anti-inflationary measureson the demand and cost side to break up the link between the present and past inflation dueto the indexation. These questions are developed in the context of Brazilian institutionalhomework, of a multiplicity of budgets, formal indexation, and a peculiar monetary system.Finally, alternative policies are critically evaluated. JEL Classification: E31.

Keywords: Inflation; stabilization (search for similar items in EconPapers)
Date: 1985
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