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Need to Design and Apply a More Effective Anti-Inflationary Plan in Latin America

Published online by Cambridge University Press:  02 January 2018

Felipe Pazos
Felipe Pazos*
Affiliation:
Central Bank of Venezuela
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Extract

In recent years, price increases in the inflation-prone countries of Latin America have accelerated from their former customary pace of 2 low digits to 3, 4, or more digits and are inflicting much more economic, social, and political damage than the old, slower price increases ever did. The joint (and inter-related) effects of the debt crisis plus galloping inflation have stopped income growth, reduced per capita income, lowered real salaries, increased unemployment (and underemployment), impaired income distribution, increased absolute poverty, and provoked urban riots.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 31 , Issue 1-2: Special Issue: Latin America at the Crossroads: Major Public Policy Issues , Spring/Summer 1989 , pp. 105 - 124
Copyright
Copyright © University of Miami 1989

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