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Inflação inercial e curva de Phillips

Author

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  • Luiz Carlos Bresser-Pereira
  • Yoshiaki Nakano

Abstract

This note introduces the problem of indexation of wages, exchange rate and other prices in the Phillips’ curve. With this aim we developed a simplified model of inflationary process decom-posing it in: (1) inertial inflation; (2) the Phillips’ curve; (3) administered or supply shock inflation. Using this model, first we show that a supply shock shifts the Phillips’ curve accelerating the trend rate of inertial inflation. Second, that a continuous demand pressure through Phillips’ curve leads to continuous acceleration of the rate of inflation. And third, that a rise in the rate of unemploy-ment may lead to a oligopolistic increase in the profit margin, which also leads a shift in the Phillips’ curve and a acceleration of the inflation.

Suggested Citation

  • Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 1986. "Inflação inercial e curva de Phillips," Brazilian Journal of Political Economy, Center of Political Economy, vol. 6(2).
    • Handle: RePEc:ekm:repojs:v:6:y:1986:i:2:id:1793
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