Economics, Econometrics and Finance
3 years ago

Brazilian economists clash over inflation theories, challenging orthodox stabilization policies.

SSRN Electronic Journal
The Dispute between the Phillips Curve and the Feedback Model in the Formulation of Brazilian Inflation Theories During the 1970s-1980s.
Jessica Gesiene Nascimento, Danilo, Ramón Fernández

Paper Summary

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The article explores how Brazilian economists in the 1970s-1980s used the Phillips curve in their inflation theories. Monetarists believed in using the Phillips curve to control inflation, but others disagreed. Inertialist economists argued against the use of the Phillips curve in Brazilian economic policies, sparking a debate among economists in Brazil during that time.