A Theory of Inflation and Growth in Under-Developed Economies Based on the Experience of Latin America

Abstract

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Monetary freedom and economic growth in New European Union Member States

“…In the first half of the decade, the most influential theoretical models continued to support the notion that there was a positive relationship between inflation and economic performance (Mundell, 1963;Tobin, 1965). Later research identified a negative relationship (Sidrauski, 1967), implying that the relationship should be explored in the broader context of structural and institutional rigidities (Patrick, 1966) and that other factors should be involved (Seers, 1962).…”

Macroeconomics the Latin American Way: Sunkel and the Quest for a Structuralist Model

“…However, structural inflation was not incorporated as part of CEPAL's "official" doctrine, since it conflicted with Secretary Raul Prebisch's more conventional views along demandpull/cost-push lines. Noyola, Sunkel and Furtado were followed by Argentine economist Julio Olivera (1960Olivera ( , 1964 and Dudley Seers (1962), a British economist who worked at CEPAL's Santiago headquarters for a while.…”

A curva de Rangel: origem, desenvolvimento e a formalização de Bresser-Pereira e Nakano

“…Assim, ele considerava não apenas os efeitos monetários como, também, os efeitos reais da inflação opondo-se, assim, aos monetaristas: "[...] essa expansão [da renda monetária] é apenas o meio pelo qual o sistema procura redistribuir a renda real com o fim de alcançar uma nova posição de equilíbrio" (Furtado, 1959, p. 238). Outros autores filiados à CEPAL, como Noyola (1956), Sunkel (1958), Pinto (1961) e Seers (1962), também identificavam certa funcionalidade na inflação.…”