A "credibilidade" da política econômica antiinflacionária e sua consistência temporal

Vol. 14 No. 1 (1994)

Jan-Mar / 1994
Published January 1, 1994
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How to Cite

Filho, Arthur Barrionuevo. 1994. “A "credibilidade" Da política econômica antiinflacionária E Sua Consistência Temporal”. Brazilian Journal of Political Economy 14 (1):120-33. https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1267.

A "credibilidade" da política econômica antiinflacionária e sua consistência temporal

Arthur Barrionuevo Filho
Brazilian Journal of Political Economy, Vol. 14 No. 1 (1994), Jan-Mar / 1994, Pages 120-133

Abstract


This article is a survey about the consequences of the credibility of government policies, one of the main developments in macroeconomic theory in the 80s. New classical economists used it to explain why, in the long-run, government policies fail when they intend to increase the level of employment above the natural rate. Even in the short run, they only achieve their aims if it is possible to cheat the private sector. The result will be to loose credibility and inflationary pressures. Other authors developed it as a tool to understand the relationship between government, political parties and pressure groups with economic policy. Finally, we comment some papers about the Brazilian inflation based on distributive conflict and compare them with explanations from credibility of policies.