Strato-inflation and High Inflation: The Brazilian Experience

Fernando Cardim de Carvalho

Cambridge Journal of Economics, 1993, vol. 17, issue 1, 63-78

Abstract: In the 1970s, a seminal study of inflationary dynamics was published by D. Jackson, H. Turner, and F. Wilkinson of the Department of Applied Economics at Cambridge University. In that study, they observed that besides equilibrium inflationary regimes, one could also identify a new regime called 'strato-inflation,' in which behaviors and institutions were affected by inflation in a fundamental way. This paper examines the notion of strato-inflation and compares it with the alternative notion of a high inflation regime. These concepts are then applied to the analysis of recent Brazilian experience. (c) 1993 Academic Press, Inc. Copyright 1993 by Oxford University Press.

Date: 1993
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