The paper aims at outlining such conceptual change with a brief account of pre-Real Plan stances on inflationary inertia and contrasts them against the general opinion on the matter in more recent times. The literature has been largely silent about the conceptual gap between the stabilization...

The paper focuses some of the non-monetary structural causes of inflationary persistence in Brazil in the post-Real plan period. A connection is made between the de-industrializing trend and the emergence of primary pressures that set a floor to inflation levels. The framework is set up in terms...