@article{Bacha_1994, title={The revenue and the inflation: an interpretation of the Brazilian case}, volume={14}, url={https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1264}, DOI={10.1590/0101-31571994-0799}, abstractNote={<p>Available “fundamentalist” interpretations of Brazilian inflation seem unable to<br />explain why Brazil has such high rate of inflation with such a small public sector operational<br />deficit. An attempt is made to explain this paradox with the use of the concepts of potential<br />deficit with zero inflation and the inflationary erosion of budgeted government expenses.<br />The conclusion is that the resolution of the Brazilian inflationary conflict involves the transfer,<br />to local governments or the private sector, of a significant share of the current functions<br />of the federal government.</p> <p><strong>JEL Classification:</strong> E31; H30.</p>}, number={1}, journal={Brazilian Journal of Political Economy}, author={Bacha, Edmar Lisboa}, year={1994}, month={Jan.}, pages={1-16} }