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Money and the Price Level
Financial Repression and Inflation
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accumulation actually aggregate agricultural assets authorities average balances bank become borrowers Brazil capital market cash balances Chapter commodity consumer cost currency demand deposits developed countries direct domestic economy effect efficient exchange expansion expected export external farmers firms fiscal flow foreign exchange foreign trade fragmentation function given growth Hence highly holding money import import substitution income increase individual industrial inflation interest rates internal investment issue labor land LDCs lending less liberalization limited loans marginal measured monetary neoclassical nominal opportunities output percent period physical capital poor problem production protection raise rates of interest rates of return ratio real return reduced reform relative remain repression restrictions result return on holding rise rural saving sector social sources stabilization structure substitution supply Table tariff theory tion
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