acceleration and a shifting Phillips curve. Friedman’s interest in the Brazilian inflationary economy prompted him to visit the …The paper investigates the role played by Friedman’s interpretation of the Brazilian inflation in his 1967 formulation … countries, Friedman found in the Brazilian 1964-66 stabilization episode significant support for his argument about inflation …

adaptive term in the Phillips curve that shifted the curve, as Friedman proposed, based on expected inflation. Initial … expectations, together with the experience of the 1970s, came to agree with Friedman that the shift was by the full amount. The …The immediate effect of Friedman's 1968 AEA presidential address on the economics profession was the introduction of an …