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The revenue and the inflation: an interpretation of the Brazilian case

Author

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  • Edmar Lisboa Bacha

Abstract

Available “fundamentalist” interpretations of Brazilian inflation seem unable toexplain why Brazil has such high rate of inflation with such a small public sector operationaldeficit. An attempt is made to explain this paradox with the use of the concepts of potentialdeficit with zero inflation and the inflationary erosion of budgeted government expenses.The conclusion is that the resolution of the Brazilian inflationary conflict involves the transfer,to local governments or the private sector, of a significant share of the current functionsof the federal government. JEL Classification: E31; H30.

Suggested Citation

  • Edmar Lisboa Bacha, 1994. "The revenue and the inflation: an interpretation of the Brazilian case," Brazilian Journal of Political Economy, Center of Political Economy, vol. 14(1), pages 1-16.
    • Handle: RePEc:ekm:repojs:v:14:y:1994:i:1:p:1-16:id:1264
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    More about this item

    Keywords

    Inflation; public expenditure; stabilization;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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