From chronic inflation to hyperinflation: observations on the current situation

André Lara Resende ()

Brazilian Journal of Political Economy, 1989, vol. 9, issue 1, 1-16

Abstract: This article makes a classification of inflation processes. Moderate inflation isa phenomenon represented by Phillip’s Curve. In chronic inflation, inertial and backward-looking indexation are major factors. Hyperinflation eliminates backward-looking indexationand is dominated by expectation and the public factor financial difficulties. It is arguedthat although the public inflation factor deficit is not always the primary cause of chronicinflation, in later stages no government deficit whatsoever can be financed. The lack of alLsources of public factor financing is what characterizes the transition to hyperinflation. Thecurrent Brazilian scene is analysed. JEL Classification: E31.

Keywords: Inflation; hyperinflation; monetary policy (search for similar items in EconPapers)
Date: 1989
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