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The author begins by asking why Brazilian policymakers opted to target the exchange rate to stabilize inflation when this strategy had already failed in Mexico. The answer: It was no longer possible to accomodate the country's high inflation rate through the pervasive use of price indexation and...
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La tasa de inflacion en el Brasil llego a 40% mensuales durante el ultimo trimestre de 1989. De nuevo, los gobernantes examinaron la posibilidad de imponer controles de precios, a pesar del fracaso de los tres intentos anteriores por abatir la inflacion mediante indizaciones en 1986, 1987 y...
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