The two price freezes in Brazil

Luiz Carlos Bresser-Pereira ()

Brazilian Journal of Political Economy, 1988, vol. 8, issue 4, 535-552

Abstract: This paper compares the Cruzado Plan with the Bresser Plan. Both were pricefreezes based on the theory of inertial inflation. However, while the Cruzado Plan intendedto end with inflation, the Bresser Plan was an emergency plan aimed to cope with the deepfinancial and economic crisis left by the failure of the Cruzado. It achieved this objective. As toinflation, the authors of the plan expected that the rate of inflation would be back to around10 percent in December 1987; the actual rate of inflation in this month was 14 percent. JEL Classification: E31; E52.

Keywords: Inflation; stabilization; cruzado plan; Bresser plan (search for similar items in EconPapers)
Date: 1988
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