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Hyperinflation and stabilization in Brazil: the first Collor Plan

Author

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  • Luiz Carlos Bresser-Pereira
  • Yoshiaki Nakano

Abstract

In this paper are analyzed (1) the conditions that gave rise to hyperinflation inearly 1990, (2) the alternative programs of stabilization that were being suggested, and (3)the stabilization plan that was finally adopted, the Collor Plan, whose failure the authors,writing in June 1990, predict already in the title of the paper: “the first Collor Plan”. Thisplan examined according to (1) the logic behind freezing 70% of the financial assets; (2) thefiscal adjustment aspect; (3) the monetary or liquidity question; (4) the demand problem;and finally (5) the causes of the resurgence of inflation with recession. For this analysis,the authors utilize a neo-structuralist approach to the inertial or autonomous inflationprevailing in Brazil. JEL Classification: E31.

Suggested Citation

  • Luiz Carlos Bresser-Pereira & Yoshiaki Nakano, 1991. "Hyperinflation and stabilization in Brazil: the first Collor Plan," Brazilian Journal of Political Economy, Center of Political Economy, vol. 11(4), pages 565-591.
    • Handle: RePEc:ekm:repojs:v:11:y:1991:i:4:p:565-591:id:1483
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    More about this item

    Keywords

    Inflation; stabilization; Collor Plan;
    All these keywords.

    JEL classification:

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

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