Bresser-Pereira, Luiz Carlos - In: Brazilian journal of political economy 16 (1996) 4, pp. 20-35
This paper is an account of the intellectual process that led, in the early 1980s, to the definition of the new economic theory of inertial inflation, which is identified as the consequence of phased or staggered price adjustments. Economic agents are involved in an endless process of balancing...