INFLATION AND STABILIZATION PLANS

2017. An encompassing analysis of Brazil's society, economy, and politics since the Independence. A national-dependent interpretation. In the bookstores and in kindle

2009. With Cleomar Gomes. The paper claimsthat inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and still is necessary in Brazil. (Paper in edited book). English version available.

2007. With Cleomar Gomes. The paper claimsthat inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and still is necessary in Brazil. (Paper in edited book). Portuguese version available.

Francisco Lopes (2004). Bresser planned to make a second stabilization based on the "otenização" - something very similar to the mechanism that was used in the Plano Real to neutralize inertial inflation (Paper).

2005. The perverse macroeconomic model of the Brazilian economy combining high interest rate and low exchange rate with growth with foreign savings and quasi-stagnation. (In edited book, Novo Desenvolvimentismo)*

1996. Maria Hermínia Tavares de Almeida writes on the Bresser Plan. (Chapter of a book)

1996. The crisis of the state interpretation. Economic and political analysis of the crisis starting in 1980 in Latin America. English and French versions availalble. (Book: Editora 34) Nas livrarias

1996. The 'crisis of the state interpretation'. Economic and political analysis of the crisis starting in 1980 in Latin America. Portuguese and French versions available. (Book: Lynne Rienner Publishers) Available in bookstores

1993. Brazil's failure to achieve price stabilization is essentially a consequence of the incompetence of authorities (and IMF) in acknowledging the inertial character of inflation and the lack of political support for fiscal adjustment. (Lecture in London)

1993. The Plano Bresser was a 1987 atempt to stabilize prices in Brazil in an adverse environment. English version available. (Paper: Revista de Economia Política).

1993. The Bresser Plan - an atempt to stabilize prices in Brazil in an adverse environment. Portuguese version available. (Paper in book edited by John Williamson)

1993. Economic heterodoxy should not be confused with economic populism. The Bresser-Plan was both heterodox and orthodox. (Conjuntura Econômica")

1992. An analysis of the disastrous IMF sponsored 1992 stabilisation plan with Marcilio Marques Moreira as finance minister. The alternative required policies. (Paper: Revista de Economia Política)*

1992. The 1991 IMF sponsored stabilisation plan (the 11th plan since 1979) with Marcilio Marques Moreira as finance minister will fail because it ignores the inertial character of inflation in Brazil. The size of the fiscal and foreign debt and the lack of support of society for a severe adjustment are additional causes. (Paper in book edite by Reis Velloso)