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Notes on money, debt and alternative monetary regimes for Brazil

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  • Deepak Lal

Abstract

This note analyzes, based on a simple model, the contribution of three authors(Rodriguez, Meltzer and Auerheimer) to the debate on inflation in Brazil and ways to overcomeit. The hypothesis of adopting a currency board regime, as suggested by the threeauthors, and its implications for Brazil are discussed in more detail. As an alternative, itis suggested to adopt a monetary regime inspired by Hayek, in which there is competitionbetween private banks for the issue of currency. JEL Classification: E42; E51; E52.

Suggested Citation

  • Deepak Lal, 1995. "Notes on money, debt and alternative monetary regimes for Brazil," Brazilian Journal of Political Economy, Center of Political Economy, vol. 15(4), pages 563-576.
    • Handle: RePEc:ekm:repojs:v:15:y:1995:i:4:p:563-576:id:1259
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    References listed on IDEAS

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    1. Thomas J. Sargent, 1982. "The Ends of Four Big Inflations," NBER Chapters, in: Inflation: Causes and Effects, pages 41-98, National Bureau of Economic Research, Inc.
    2. Milton Friedman & Anna J. Schwartz, 1987. "Has Government Any Role in Money?," NBER Chapters, in: Money in Historical Perspective, pages 289-314, National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    Money supply; monetary regime; central bank;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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