Inflação inercial e curva de Phillips

Vol. 6 No. 2 (1986)

Apr-Jun / 1986
Published April 1, 1986

How to Cite

Bresser-Pereira, Luiz Carlos, and Yoshiaki Nakano. 1986. “Inflação Inercial E Curva De Phillips”. Brazilian Journal of Political Economy 6 (2).

Inflação inercial e curva de Phillips

Luiz Carlos Bresser-Pereira
Yoshiaki Nakano
Brazilian Journal of Political Economy, Vol. 6 No. 2 (1986), Apr-Jun / 1986, Pages


This note introduces the problem of indexation of wages, exchange rate and other prices in the Phillips’ curve. With this aim we developed a simplified model of inflationary process decom-posing it in: (1) inertial inflation; (2) the Phillips’ curve; (3) administered or supply shock inflation. Using this model, first we show that a supply shock shifts the Phillips’ curve accelerating the trend rate of inertial inflation. Second, that a continuous demand pressure through Phillips’ curve leads to continuous acceleration of the rate of inflation. And third, that a rise in the rate of unemploy-ment may lead to a oligopolistic increase in the profit margin, which also leads a shift in the Phillips’ curve and a acceleration of the inflation.