The Monetary and Fiscal History of Latin America: The Case of Brazil

In Brazil, five stabilization plans in less than a decade failed to cure hyperinflation.
The Real Plan adopted in the mid-1990s worked and has kept the price level relatively stable. In this presentation, Márcio Garcia tries to understand why. He finds a tight link between inflation and money growth.
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The PUC-Rio (Catholic University at Rio de Janeiro) produced many of the economists who were part of the Plano Real.