Some governments facing high rates of inflation have adopted wage and exchange rate indexation in an attempt to offset the costs to workers and exporters. But indexation based on past values of inflation is considered to be a powerful source of current and future inflation that undermines fiscal and monetary stringency designed to reduce inflation. Brazil indexed wages and the exchange rate for more than twenty years. The authors derive a transfer...
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详细
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1989/09/30
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日志文章
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14197
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1
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1
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2010/07/01
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Indexation and inflationary inertia : Brazil 1964-1985
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inflation