Japan suffered a very high inflation rate in 1973-74. The CPI inflation rate rose to near 30% in 1974, the highest rate …, the oil crisis is blamed for the 1973-74 high inflation. However, due to monetary policy decisions in 1972-73, the … inflation rate had already exceeded 10% before the onset of the oil crisis in October 1973. These decisions include the interest …

yields on long maturity inflation - indexed bonds. This relationship can be interpreted as defining the fair value of the … exchange rate that will prevail in any model or real world economy in which inflation indexed bonds are traded. An advantage of … with a 50 basis point rise in the inflation indexed bond return differential in favor of the foreign country and an 50 …

Brazil has had a long period of high inflation. It peaked around 100 percent per year in 1964, decreased until the … crisis in the early 1980s. We show that the high-inflation period (1960–1994) was characterized by a combination of fiscal … deficits, passive monetary policy, and constraints on debt financing. The transition to the low-inflation period (1995 …

This paper discusses the acceleration of inflation in Brazil. In the early 1980s, the Brazilian inflation rate … Cruzado Plan failed to stop inflation because of an extremely loose monetary policy coupled with a lack of fiscal austerity …. Repeated price controls have increased the variability of inflation. More recently, the decline in tax collections and the …

This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money … demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate …-spending equation that accounts for the effects of the inflation tax. The paper derives the dynamic effects of fiscal policy, incomes …

Inflation persists at moderate rates of 15-30 percent in all the countries that successfully reduced triple digit … inflations in the 1980s. Several other countries, for example Colombia, have experienced moderate inflation for prolonged periods …. In this paper we first set out theories of persistent inflation, which can be classified into those emphasizing …

This paper highlights the institutional features of the inflation process and contrasts two stabilization efforts in … 1964-66 and in 1986.The inflation process in Brazil is highly institutional. It does not resemble hyperinflations where … pricing and wage setting are geared to the exchange rate by the hour, making it possible to stop inflation by simply …

these ideas by looking at the effect of central bank independence on inflation. The evidence is consistent with the notion … that central bank reforms have reduced inflation in societies with intermediate constraints and have had no or little … with the seesaw effect, in countries where central bank reforms reduce inflation, government expenditure tends to increase …