Ajustamento externo, financeirização dos preços e inflação [External adjustment, 'financially-based price formation', and inflation]

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Ajustamento externo, financeirização dos preços e inflação [External adjustment, 'financially-based price formation', and inflation]

Author Info

Otaviano Canuto () (Universidade de São Paulo - USP)
Antonio José Meirelles () (Universidade Estadual de Campinas - Unicamp)

Abstract

This paper develops a simple structuralist model to deal with the relationships between inflation and external adjustment policies in foreign-indebted economies facing strong reversals in capital inflows. Taking Latin American experiences in the eighties as a reference, the model attempts to systematize the so-called hypothesis of 'financially- based price formation', namely, the regime of price formation through which both real interest rates and inflation rates moved together upwards as a response to increasing pressures for transfer abroad of real resources as a means of debt servicing.

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Publisher Info
Article provided by Economics Department, Universidade Federal de Minas Gerais (Brazil) in its journal Nova Economia.

Volume (Year): 11 (2001)
Issue (Month): 2 (December)
Pages: 31-50
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Handle: RePEc:nov:artigo:v:11:y:2001:i:2:p:31-50

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Find related papers by JEL classification:
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Blecker, Robert A, 1989. "International Competition, Income Distribution and Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 13(3), pages 395-412, September.
Márcio Holland & Otaviano Canuto & Clésio Xavier, 1998. "Taxas de Câmbio, Elasticidades-renda e Saldo Comercial na Economia Brasileira," Revista Brasileira de Economia, Graduate School of Economics, Getulio Vargas Foundation (Brazil), vol. 52(2), April.

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