Distribution and Conflict Inflation in Brazil under Inflation Targeting, 1999–2014

Ricardo Summa and Franklin Serrano

Review of Radical Political Economics, 2018, vol. 50, issue 2, 349-369

Abstract: In this paper, we analyze Brazilian inflation under the inflation-targeting system from a conflict inflation perspective and show how the inflation target system only worked well when there was a trend of exchange rate appreciation. Later, the strengthening of the bargaining power of workers and rising real wages since 2006, combined with continuous nominal exchange rate depreciation after mid-2011, increased distributive conflicts and are ultimately behind the recent shift toward austerity.

Keywords: conflict inflation; inflation target system; functional income distribution; Brazilian economy (search for similar items in EconPapers)
JEL-codes: B51 E31 E58 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:50:y:2018:i:2:p:349-369

DOI: 10.1177/0486613417691787

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