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Accelerating, maintaining and sanctionating factors of inflation

Author

Listed:
  • Luiz Carlos Bresser-Pereira
  • Yoshiaki Nakano

Abstract

In order to understand inflation or stagflation in present-day oligopolistic capitalism,it is necessary to distinguish the accelerating, maintaining and sanctionating factorsof inflation. Four are the accelerating factors: change in profit margins, change in real wagesabove (or below) productivity, changes in the real exchange rate, and in the costs of imports.The basic maintaining factors are formal and informal indexation of the economy and markuppricing. Given an autonomous inflation, that is, independent of sustained demand or fullemployment, the fundamental sanctionating factor of inflation will be the money supply. JEL Classification: E31; E12.

Suggested Citation

  • Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 1984. "Accelerating, maintaining and sanctionating factors of inflation," Brazilian Journal of Political Economy, Center of Political Economy, vol. 4(1), pages 3-19.
    • Handle: RePEc:ekm:repojs:v:4:y:1984:i:1:p:3-19:id:1872
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    More about this item

    Keywords

    Inflation; stabilization;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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