In the past 20 years, high and extremely volatile inflation rates in Latin America have generally been associated with … consensus that high inflation is bad for economic development and growth, so it is unclear why governments have adopted unstable … (dec-) accelerating inflation as the cost of collecting information (rises) falls compared with other welfare losses. When …

presents evidence suggesting that, in the absence of a fiscal adjustment, low inflation and high reserves may have been pursued … at the expense of long-run growth and poverty reduction. Resolving this inflation-external vulnerability-growth policy …