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A descoberta da inflação inercial
2009. The history of the discovery of inertial inflation. The role played by the São Paulo (FGV) and the Rio (PUC) groups. (Paper: Revista de Economia Contemporânea)
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A economia e a política do Plano Real
1994. The logic and the intellectual background of the Plano Real, and a collection of articles published in the press between May 1993 and June 1994 on the successful stabilization plan. (Note: Revista de Economia Política) *
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Contra a Corrente: A Experiência no Ministério da Fazenda
1992. Revised version of the testimony to IUPERJ on the author's experience as Finance Minister in Brazil: the major crisis, the "Bresser Plan", and the negotiation of the foreign debt. Non revised version available in French. (In Revista Brasileira de Ciências Sociais")
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Hiperinflação e estabilização no Brasil: o primeiro Plano Collor
1991. With Yoshiaki Nakano. This paper predicts the failure of the Collor Plan for failing to neutralize inertia, in a moment conventional orthodoxy was sure that it would be successful. English and French versions available. (Paper: Revista de Economia Política) *
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Hyper-inflation et stabilisation au Brésil: le premier plan Collor
1991. With Yoshiaki Nakano. This paper predicts the failure of the Collor Plan for failing to neutralize inertia, in a moment conventional orthodoxy was sure that it would be successful. English and Portuguese versions available. (Paper: Revue Tiers Monde)
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Resíduo inflacionário pós-congelamento e política monetária
1991. With Yoshiaki Nakano. A successful estabilization of high and inertial inflation will depend on the size of the 'inflationary residuum' left after a price freeze is undertaken. Examples in the Collor I and II stabilization plans. (Paper in book edited by Clovis de Faro)
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O tigre não morreu
1990. As early as April I said that the Plano Collor failed to control high inflation, despite its strong fiscal and monetary adjustment. (Article: Folha de S.Paulo, 27/5)
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Da inflação à hiperinflação: Uma abordagem estruturalista
1990. Between high inertial inflation and hyperiflation we have the present 'indexated hyperinflation' (73%) It is an intermediary stage before full hyperinflation. (Paper in book edited by JM Rego)
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O Plano Collor e a volta da inflação
1990. Three months after the Collor Plan, the prediction of its failure. A critique of the monetarist and of the Keynesian explanation only a neo-structuralist approach based on distributive conflict and indexation can explain the return of inflation.(Paper: Indicadores Econômicos FEE)
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Expériences d'un gouvernement: le ministère des Finances au Brésil
1989. A testimony to IUPERJ on the author's experience as Finance Minister in Brazil. I receive the finance ministry when the Great Debt Crisis of the 1980s reaches its peak with the failure of the Cruzado Plan. The emergence "Bresser Plan", and the negotiation of the foreign debt. Available in Portuguese, and in an extended version. (Published in Problèmes d'Amérique Latine)
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A teoria da inflação inercial reexaminada
1989. While monetarists emphasize expectation, the strucuturalist theory of inertial inflation privileges distributive conflict. When prices are being increased in a staggered or indexed way, economic agents cannot change their expectatives: they have to increase prices just to keep their share in income. PUC's Rio de Janeiro group, that participate in the formulation of the theory, are falling in a monetarist trap when they privilege expectations instead of distributive conflict. (Introductory paper in book edited by José Marcio Rego)
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A aceleração da inflação inercial
1989. Inertial inflation is accelerating in Brazil and threatening to turn into hyperinflation. An explanation of why inertial inflation is rigid is is to be reduced, but tends to increase as distributive conflict increases. (Paper in book edited by José Marcio Rego)
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The perverse macroeconomics of debt, deficit and inflation in Brazil
1989. There is a perverse logic in the Brazilian macroeconomic system involving foreign debt, fiscal deficit and inertial inflation. Portuguese version available.(Paper in book edited by Fukuchi and Kagami).
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Brazil's inflation and the Cruzado Plan, 1985-1988
1988. A comparison between the Cruzado Plan (1986) and the Bresser Plan (1987). Portuguese version available.(Paper in Pamela Falk's edited book, 1990)
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Experiências de um governo
1988. A testimony to IUPERJ (Wanderley Guilherme dos Santos) on the authors experience as Finance Minister of Brazil. Available in French, and also an extended and revised version.(Discussion paper, IUPERJ)
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The Theory of Inertial Inflation
1987. With Yoshiaki Nakano. Collected papers on the theory of inertial or indexed inflation - a type of inflation that neither the monetarist nor the Keynesian approaches are able to explain. Papers since 1980. Translation of Inflação e Recessão (1984)with the addition of paper on the 1985 Cruzado Plan. (Book: Lynne Rienner Publishers)
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Inertial inflation and the Cruzado Plan
1987. Paper written a four months after the Cruzado Plan was lauched to control inertial inflation. The two main dangers the plan was facing were relative prices desiquilibria left by the plan and an increasing budget deficit. Portuguese version available.(Paper: World Development)
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Inflação inercial e choque heterodoxo no Brasil
1986. Paper written a four months after the Cruzado Plan was lauched to control inertial inflation. The two main dangers the plan was facing were relative prices desiquilibria left by the plan and an increasing budget deficit. (Paper in book edited by José Marcio Rego)
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Inertial inflation and the Phillips curve
1987. With Yoshiaki Nakano. Inertial inflation is consistent with the Philips that shifts continuously to the right. Portuguese version available. (Paper in The Theory of Inertial Inflation. Boulder: Lynne Rienner Publishers, 1987: 109-116).
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Congelamento setorial e inflação corretiva
1985. With Fernando Dall'Acqua. A price freeze (without the neutralization of inertia) will unbalance relative prices after some time, inflation will be back. (Note: Carta de Conjuntura.
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Administrative policy: gradualism or shock
1984 [1987]. With Yoshiaki Nakano. High inertial inflation can be neutralized by a heroic price freeze combined with conversion tables. The original paper, in Portuguese, was the first proposal of a 'heterodox shock' in Brazil, published in July 1984, in Revista de Economia Política before Chico Lopes' August proposal publihed in a bulletin. (Chapter 4 of Bresser-Pereira & Nakano, The Theory of Inertial Inflation. Boulder: Lynne Rienner Publishers, 1987: 83-107).
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Inflação e Recessão
1984. With Yoshiaki Nakano. Collected papers on inertial inflation - a form of inflation that either the monetarist or the Keynesian approach does not explain - written since 1980. (Book: Editora Brasiliense).
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Fatores aceleradores, mantenedores e sancionadores da Inflação
1983. With Yoshiaki Nakano. One must distinguish the accelerating from the maintaining and the sanctioning factors of inflation. I believe that this paper was the first complete paper on the theory of inertial inflation. English version available. (Paper: Anais do X Encontro Nacional de Economia da ANPEC, December 1983. Also in Revista de Economia Política)
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Inflação, desequilíbrio externo e salários
1981 With Yoshiaki Nakano. A critique of Adroaldo Moura da Silva's paper proposing the control of inflation through wage reduction. (Paper: Revista de Economia Política )*
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Inflação no capitalismo de Estado (e a experiência brasileira recente)
1981 This paper explains stagflation with the administrative or cost theory of inflation emphasizing money endogeneity. This paper contains my first vision of inertial inflation: in one of the sessions I explain high inflation by the fact that firms A, B, and C index their princes increasing them according to the going rate of inflation in a staggered way. (Paper: Revista de Economia Política) *
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A Inflação Decifrada
1996. An account of the theory of inertial inflation original development in São Paulo (FGV) and Rio de Janeiro (PUC) in the early 1980s (Paper in Revista de Economia Política). *
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Inflação inercial e Plano Cruzado
1986. Paper written a four months after the Cruzado Plan was lauched to control inertial inflation. The two main dangers the plan was facing were relative prices desiquilibria left by the plan and an increasing budget deficit. "Inflação inercial e choque heterodoxo in Brazil" written with Y.Nakano is a similar work. English version available.(Paper: Revista de Economia Política)
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Inflação inercial e curva de Phillips
1986. With Yoshikaki Nakano. Inertial inflation is consistent with the Philips that shifts continuously to the right. English version available.(Paper: Revista de Economia Política)
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Política administrativa de controle da inflação
1984. With Yoshiaki Nakano. High inertial inflation can be neutralized by a heroic price freeze combined with conversion tables. The first proposal of a 'heterodox shock' in Brazil, published in July 1983, in Revista de Economia Política before Chico Lopes' August proposal publihed in a bulletin. English version available. (Paper: Revista de Economia Política
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A Armadilha Teórica da Política de Estabilização
1984. With Yoshiaki Nakano. Survey of the book Brasil x FMI: Armadilha da Recessão with articles by Belluzzo, Cardoso, Rezende, Arida. (Survey: Revista de Economia Política)
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O Plano Real em 1993 e 1994
1993-1994. Collection of the articles published in the Brazilian press on the Real Plan between November 1993 (before it was announced) and August 1994. (Published only here)
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