Runaway Inflation in Chile, 1970-1973
Autores
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Sebastián Edwards
University of California, Los Angeles
Resumo
In this essay, I argue that the explosion of inflation during the Salvador Allende
administration in Chile (above 1,500% on a six-month annualized measure)
was predictable. The government’s use of massive and strict price controls
generated acute macroeconomic imbalances. I postulate that the combination
of runaway inflation, shortages, and black markets generated major hostility
among the middle class and that that unhappiness reduced the support for the
Unidad Popular government.
Palavras-chave:
Socialism, Salvador Allende, Devaluation, Hyperinflation, Chile, Price controls, Unidad Popular
Números especiais
Prestes a ser publicado
EDE
