The Real Plan: Stabilization and destabilization

dc.contributorUniversidade Estadual Paulista (Unesp)
dc.date.accessioned2014-05-27T11:19:51Z
dc.date.accessioned2022-10-05T17:40:42Z
dc.date.available2014-05-27T11:19:51Z
dc.date.available2022-10-05T17:40:42Z
dc.date.created2014-05-27T11:19:51Z
dc.date.issued2000-01-01
dc.identifierWorld Development, v. 28, n. 1, p. 155-171, 2000.
dc.identifier0305-750X
dc.identifierhttp://hdl.handle.net/11449/66043
dc.identifier10.1016/S0305-750X(99)00115-1
dc.identifier2-s2.0-0034008243
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/3915882
dc.description.abstractThe paper analyzes Brazil's Real Plan, an exchange-rate based stabilization program, implemented in 1994, which mixed a spectacular price stabilization with some serious macroeconomic destabilization. The paper focuses on two of these imbalances: the consumption boom and the financial destabilization; showing that the former represented nothing the reverse side of a collapsed investment boom, which, in turn, led to the financial (banking) crisis. We hold that these instabilities were produced by a policy arrangement in which monetary and fiscal policies alone had to compensate for a largely appreciated, almost fixed, exchange rate anchor. (C) 2000 Elsevier Science Ltd. All rights reserved.
dc.languageeng
dc.relationWorld Development
dc.relation3.166
dc.rightsAcesso restrito
dc.sourceScopus
dc.subjectBrazil
dc.subjectConsumption boom
dc.subjectExchange rate anchor
dc.subjectInflation
dc.subjectReal Plan
dc.subjectStabilization program
dc.subjectexchange rate
dc.subjectfiscal policy
dc.subjectmonetary policy
dc.subjectpricing policy
dc.subjectstabilization
dc.titleThe Real Plan: Stabilization and destabilization
dc.typeArtigo


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