A curva de Rangel : origem, desenvolvimento e a formalização de Bresser-Perreira e Nakano
By: MORENO, Osmani Pontes
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Contributor(s): MODENESI, André de Melo.
Material type: 
ArticlePublisher: São Paulo : Editora 34, out./dez. 2014Revista de Economia Política = Brazilian Journal of Political Economy 34, 4, p. 565-586Abstract: The Rangel curve: Origin, development and formalization of Bresser-Pereira and Nakano. For Rangel inflation is caused by oligopolies and is necessary because it prevents a depression in an economy with low propensity to consume. Facing inflation, government prints money to avoid a liquidity crisis. This conception implies a double opposition to monetarist thought: conceives inflation as functional phenomenon and reverses the causality established by the quantitative equation. Bresser and Nakano were highly influenced by Rangel and stress that inflation is caused by oligopolies and also propose a sanctioning role of the state. However, these authors go further Rangel arguing that in recession inflation accelerates thus, formalizing a negative relationship between GDP growth and inflation, according with the so called Rangel curve.
The Rangel curve: Origin, development and formalization of Bresser-Pereira and Nakano. For Rangel inflation is caused by oligopolies and is necessary because it prevents a depression in an economy with low propensity to consume. Facing inflation, government prints money to avoid a liquidity crisis. This conception implies a double opposition to monetarist thought: conceives inflation as functional phenomenon and reverses the causality established by the quantitative equation. Bresser and Nakano were highly influenced by Rangel and stress that inflation is caused by oligopolies and also propose a sanctioning role of the state. However, these authors go further Rangel arguing that in recession inflation accelerates thus, formalizing a negative relationship between GDP growth and inflation, according with the so called Rangel curve.
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