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The two price freezes in Brazil

Author

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  • Luiz Carlos Bresser-Pereira

Abstract

This paper compares the Cruzado Plan with the Bresser Plan. Both were pricefreezes based on the theory of inertial inflation. However, while the Cruzado Plan intendedto end with inflation, the Bresser Plan was an emergency plan aimed to cope with the deepfinancial and economic crisis left by the failure of the Cruzado. It achieved this objective. As toinflation, the authors of the plan expected that the rate of inflation would be back to around10 percent in December 1987; the actual rate of inflation in this month was 14 percent. JEL Classification: E31; E52.

Suggested Citation

  • Luiz Carlos Bresser-Pereira, 1988. "The two price freezes in Brazil," Brazilian Journal of Political Economy, Center of Political Economy, vol. 8(4), pages 535-552.
    • Handle: RePEc:ekm:repojs:v:8:y:1988:i:4:p:535-552:id:1113
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    More about this item

    Keywords

    Inflation; stabilization; cruzado plan; Bresser plan;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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