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Hyperinflation in Latin America

Author

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  • Eliana A. Cardoso

Abstract

This paper discusses why inflation is so high in Latin America and· what can bedone to stop it. The first part starts with an analysis of monetarism. It also discusses seignoragemodels, the impact of the debt crisis and of dollarization on inflation. Next, we reviewstructuralism and its most recent insight: inflation inertia. Then we integrate the differentinterpretations of inflation. The second part examines stabilization programs, beginningwith the analysis of programs derived from the monetarist diagnosis, or orthodox programs.Next, we turn to heterodox programs, including both populist programs and programsbased on a new interpretation of inflation. The stabilization programs of the 1980s failedto obtain budget consolidation and large budget deficits have pushed the economy into aclassic inflationary finance situation. JEL Classification: E31.

Suggested Citation

  • Eliana A. Cardoso, 1989. "Hyperinflation in Latin America," Brazilian Journal of Political Economy, Center of Political Economy, vol. 9(3), pages 326-345.
    • Handle: RePEc:ekm:repojs:v:9:y:1989:i:3:p:326-345:id:1617
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1617/1603
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    Cited by:

    1. Eliana A. Cardoso & Albert Fishlow, 1989. "Latin American Economic Development: 1950-1980," NBER Working Papers 3161, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Inflation; hyperinflation; monetary policy; stabilization;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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