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Avoiding some costs of inflation and crawling toward hyperinflation: The case of the Brazilian domestic currency substitute


  • Garcia, Marcio G. P.


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  • Garcia, Marcio G. P., 1996. "Avoiding some costs of inflation and crawling toward hyperinflation: The case of the Brazilian domestic currency substitute," Journal of Development Economics, Elsevier, vol. 51(1), pages 139-159, October.
  • Handle: RePEc:eee:deveco:v:51:y:1996:i:1:p:139-159

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    References listed on IDEAS

    1. Hodrick, Robert J & Kocherlakota, Narayana R & Lucas, Deborah, 1991. "The Variability of Velocity in Cash-in-Advance Models," Journal of Political Economy, University of Chicago Press, vol. 99(2), pages 358-384, April.
    2. Persio Arida & André Lara Resende, 1985. "Inertial inflation and monetary reform in Brazil," Textos para discussão 85, Department of Economics PUC-Rio (Brazil).
    3. Dionisio Dias Carneiro & Marcio Gomes Pinto Garcia, 1993. "Capital flows and monetary control under a domestic currency substitution regime: The recent Brazilian experience," Textos para discussão 304, Department of Economics PUC-Rio (Brazil).
    4. Douglas W. Diamond & Philip H. Dybvig, 2000. "Bank runs, deposit insurance, and liquidity," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 14-23.
    5. Eliana Cardoso, 1991. "From Inertia to Megainflation: Brazil in the 1980s," NBER Working Papers 3585, National Bureau of Economic Research, Inc.
    6. Don Patinkin, 1993. "Israel's Stabilization Program of 1985, or Some Simple Truths of Monetary Theory," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 103-128, Spring.
    7. Fischer, Stanley & Summers, Lawrence H, 1989. "Should Governments Learn to Live with Inflation?," American Economic Review, American Economic Association, vol. 79(2), pages 382-387, May.
    8. Simonsen, Mario Henrique & Cysne, Rubens Penha, 1994. "Welfare costs of inflation: the case for interest-bearing money and empirical estimates for Brazil," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 245, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
    9. Cysne, Rubens Penha, 1993. "Imposto inflacionário e transferências inflacionárias no Brasil," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 219, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
    10. Olivier Jean Blanchard & Stanley Fischer, 1989. "Lectures on Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262022834, July.
    11. Michael Bruno & Stanley Fischer, 1990. "Seigniorage, Operating Rules, and the High Inflation Trap," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 353-374.
    12. Allan Drazen & Elhanan Helpman, 1990. "Inflationary Consequences of Anticipated Macroeconomic Policies," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 147-164.
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    Cited by:

    1. Jérôme Sgard, 2010. "Money Reconstructed: Argentina and Brazil after Hyperinflation," Sciences Po publications info:hdl:2441/4vc7skecu3q, Sciences Po.
    2. Albuquerque, Pedro H. & Gouvea, Solange, 2009. "Canaries and vultures: A quantitative history of monetary mismanagement in Brazil," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 479-495, April.
    3. Jérôme Sgard, 2010. "Money Reconstructed: Argentina and Brazil after Hyperinflation," Working Papers hal-00972721, HAL.
    4. Ndambendia, Houdou, 2015. "Africa trade and investment with BRIC nations in a changing economic landscape: the role of China," MPRA Paper 71675, University Library of Munich, Germany.
    5. Márcio Gomes Pinto Garcia, 2002. "Public debt management, monetary policy and financial institutions," Textos para discussão 464, Department of Economics PUC-Rio (Brazil).
    6. Wilson Luiz Rotatori, 2006. "Dynamic Structural Models And The High Inflation Period In Brazil: Modelling The Monetary System," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 44, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. repec:spo:wpecon:info:hdl:2441/4vc7skecu3q7u7s984pi2eaan is not listed on IDEAS
    8. Nora Abu Asab & Juan Carlos Cuestas & Alberto Montagnoli, 2015. "Inflation targeting or Exchange Rate Targeting: Which Framework Supports The Goal of Price Stability in Emerging Market Economics?," Working Papers 2015025, The University of Sheffield, Department of Economics.
    9. Afonso S. Bevilaqua & Márcio Gomes Pinto Garcia, 1999. "Banks, domestic debt intermediation and confidence crises: the recent Brazilian experience," Textos para discussão 407, Department of Economics PUC-Rio (Brazil).
    10. Rene Coppe Pimentel & Taufiq Choudhry, 2014. "Stock Returns Under High Inflation and Interest Rates: Evidence from the Brazilian Market," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(1), pages 71-92, January.

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