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Monetary reform, general indexation and the stabilization plan

Author

Listed:
  • Fernando J. Cardim de Carvalho

Abstract

The FHC Stabilization Plan consists of three stages, one of which is a monetaryreform where a new money-of-account is initially created as the basis for a new moneyproper to be issued later to replace the cruzeiro real. The paper explores the differencesbetween indexation and monetary reform in the light of the distributive inconsistenciesgenerated by a high inflation regime. It is shown that the possibility of explosive solutionsto the coordination problem during the transition for new money is much increased by therules proposed by the government. JEL Classification: E31.

Suggested Citation

  • Fernando J. Cardim de Carvalho, 1994. "Monetary reform, general indexation and the stabilization plan," Brazilian Journal of Political Economy, Center of Political Economy, vol. 14(2), pages 282-287.
    • Handle: RePEc:ekm:repojs:v:14:y:1994:i:2:p:282-287:id:1285
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1285/1270
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    More about this item

    Keywords

    Stabilization; inflation; Real Plan;
    All these keywords.

    JEL classification:

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

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