Keynes, Sargent e o papel da política monetária em um plano de estabilização

Resumo

One of the most controversial issues related to a stabilization program based on price control policies, such as the ones recently implemented in Argentina, Brazil, and Israel, is the role of the monetary policy. With the sharp reduction in inflation demand for money will be dramatically increased. Thus, in order to avoid the recessive impact associated to a rise in interest rates, the government will have to remonetize the economy. However, if the remonetization is made “too fast” the credibility in the stabilization program may be jeopardized. In this paper we analyze this dilemma, having in mind au almost unknown proposal made by Keynes to stabilize prices and the exchange in Germany during the twenties.

Ficha do documento

Tipo

Artigo científico

Ano

1988

Instituição

Instituto de Pesquisa Econômica Aplicada (Ipea)

Fonte

Repositório do Ipea

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.ipea.gov.br:11058/5964

Licença

Licença Comum

Abrangência

Alemanha; 1920-1929

Temas

Políticas Públicas

Palavras-chave

Estabilização EconômicaPolíticas PúblicasPrograma de estabilizaçãoPolíticas de controle de preços