Luiz Carlos Bresser-Pereira
Revista de Economia Política 1(2), abril-junho 1981: 3-41. Reproduzido em Inflação e Recessão.
This paper uses administrative theory of inflation to explain stagfation in capitalist economies. High rates of inflation would be consequece of increased monopoly power. Yet, it already emphasizes the endogenous character of money endogeneity, and offers a first view of inertial inflation as it argues that firms A, B, and C increase prices in a staggered way.
