We look into Brazil''s public sector accounts during the two administrations of President Fernando Henrique Cardoso …

We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation …

This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …

The possibility of reducing the real value of domestic non-indexed government debt through inflation is studied. A …

This Selected Issues paper analyzes pace of economic growth for Brazil. Moderating activity and stubbornly elevated … inflation since 2010 have led to a reevaluation of Brazil’s long-term potential growth rate. Growth accounting suggests that …

Although accommodative policies and widespread indexation may account for the persistence of high inflation, they … cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes … immediately preceding the recent “heterodox” attempts at stabilization in Argentina, Brazil, and Israel. An attempt is made to …