A descoberta da inflação inercial

This paper contains my version of the history of inertial inflation. The first complete formulation of the theory is in a 1983 paper by myself and Nakano; and the first paper that proposed a price shock combined with a conversion table is a 1984 paper also by the same authors. Resende and Arida write in 1984 the first paper proposing an indexed money to neutralize inertia; Francisco Lopes, again in 1984, relates inertial-inflation with hyperinflation. The main references are clearly presented.

A ESTABILIZAÇÃO EM DOIS REGISTROS

This paper explores the contribution and evolution of Pérsio Arida concept about the stabilization of high and chronic inflation in the brazilian economy. He was an important economist of the team responsible for the formulation of Cruzado Plan and Real Plan. In the beginning, the heterodox stabilization with indexed money was presented as better than others stabilizations alternatives because of two stressed characteristics: the stabilization program would be almost painless and guided by the neutrality principle. However, both the neutrality and almost painless notions will be abandoned in yours reflections after several failed stabilizations in Brazil.