INFLATION AND STABILIZATION PLANS - Br

2020. Many rich countries are financing the huge Covid-19 expenditures by monetary emission. Brazil should have done the same. Portuguese version available. (Paper: Brazilian journal of Political Economy) English version available

2013. Com José Marcio Rego. Este texto reproduz trabalho publicado um ano antes da morte de Ignácio Rangel (1993), com pequenas correções e a substituição da parte referente ao ciclo longo e à dualidade básica pela revisita realizada por Bresser-Pereira aos dois problemas.

2009. The history of the discovery of inertial inflation. The role played by the São Paulo (FGV) and the Rio (PUC) groups. (Paper: Revista de Economia Contemporânea)

2007. With Cleomar Gomes. The paper claimsthat inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and still is necessary in Brazil. (Paper in edited book). Portuguese version available.

2009. With Cleomar Gomes. The paper claims that inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and is still necessary in Brazil. (Paper in edited book). English version available.

2007. The Bresser Plan was an emergencial attempt to control inertial inflation in a moment of deep crisis, just after the collapse of the Cruzado Plan. Interview: O Estado de S.Paulo).

2005. The perverse macroeconomic model of the Brazilian economy combining high interest rate and low exchange rate with growth with foreign savings and quasi-stagnation. (In edited book, Novo Desenvolvimentismo)*

2001. My first paper after leaving the Cardoso administration in June 1999. Incompetence and subordination to the North characterized Latin American economic policies since the early 1980s'. English version available. (Paper: Revista de Economia Política) *

1994. The logic and the intellectual background of the Plano Real, and a collection of articles published in the press between May 1993 and June 1994 on the successful stabilization plan. (Note: Revista de Economia Política) *

1993. Brazil's failure to achieve price stabilization is essentially a consequence of the incompetence of authorities (and IMF) in acknowledging the inertial character of inflation and the lack of political support for fiscal adjustment. (Lecture in London)

1993. The Plano Bresser was a 1987 atempt to stabilize prices in Brazil in an adverse environment. English version available. (Paper: Revista de Economia Política).

1993. The Bresser Plan - an atempt to stabilize prices in Brazil in an adverse environment. Portuguese version available. (Paper in book edited by John Williamson)

1992. With José Marcio Rego. Ignácio Rangel is an highly orginal anaylist of the Brazilian macroeconomy and of its development. (Paper: Revista de Economia Política)

1992. Revised version of the testimony to IUPERJ on the author's experience as Finance Minister in Brazil: the major crisis, the "Bresser Plan", and the negotiation of the foreign debt. Non revised version available in French. (In Revista Brasileira de Ciências Sociais")

1993. Economic heterodoxy should not be confused with economic populism. The Bresser-Plan was both heterodox and orthodox. (Conjuntura Econômica")

1992. An analysis of the disastrous IMF sponsored 1992 stabilisation plan with Marcilio Marques Moreira as finance minister. The alternative required policies. (Paper: Revista de Economia Política)*

1992. The 1991 IMF sponsored stabilisation plan (the 11th plan since 1979) with Marcilio Marques Moreira as finance minister will fail because it ignores the inertial character of inflation in Brazil. The size of the fiscal and foreign debt and the lack of support of society for a severe adjustment are additional causes. (Paper in book edite by Reis Velloso)

1991. The Marcilio Plan being signed with IMF will fail because it ignores the inertial character of the Brazilian inflation. (Article: Folha de S.Paulo)