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Graphical interpretation of adjustment program costs

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  • Jairo Abud

Abstract

This work is based on a Bresser-Pereira’s paper, in which he proposes to representthe liquid costs of an economic adjustment applied upon a country. For that study heused a graphic tool. Generally speaking, we may say that there are two situations: the firstone occurs when the country ‘s government decides to apply the adjustments and reformsas soon as distortions appear. The second one happens when the government, in spite of theevidences, muddling through reforms, waits for a society consensus. To illustrate this twodifferent cases, Mexico and Argentina were chosen. Although the graphic tried to show thetransitional costs of adjustment, it is possible to deduce other interesting things – basis ofthis work. JEL Classification: E31.

Suggested Citation

  • Jairo Abud, 1992. "Graphical interpretation of adjustment program costs," Brazilian Journal of Political Economy, Center of Political Economy, vol. 12(4), pages 591-598.
    • Handle: RePEc:ekm:repojs:v:12:y:1992:i:4:p:591-598:id:1441
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    File URL: https://centrodeeconomiapolitica.org/repojs/index.php/journal/article/view/1441/1427
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    Keywords

    Stabilization; inflation;

    JEL classification:

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

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