The paper investigates the role played by Friedman’s interpretation of the Brazilian inflation in his 1967 formulation of the natural rate hypothesis and in his 1976 discussion of indexation and other institutional arrangements in the face of chronic inflation. It is argued that, as an empirical economist and in the absence of evidence from industrialized countries, Friedman found in the Brazilian 1964-66 stabilization episode significant support for his argument about inflation acceleration and a shifting Phillips curve. Friedman’s interest in the Brazilian inflationary economy prompted him to visit the country in 1973. The context and implications of Friedman’s Brazilian travel are also tackled in the paper.

中文翻译：

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米尔顿弗里德曼 1967 年总统演讲和 1976 年诺贝尔演讲与巴西的联系

本文调查了弗里德曼对巴西通货膨胀的解释在他 1967 年提出的自然利率假说以及他在 1976 年讨论指数化和其他面对慢性通货膨胀的制度安排时所起的作用。有人认为，作为经验经济学家，在缺乏工业化国家证据的情况下，弗里德曼在巴西 1964-66 年的稳定事件中发现，他关于通胀加速和菲利普斯曲线移动的论点得到了重要支持。弗里德曼对巴西通货膨胀经济的兴趣促使他于 1973 年访问该国。弗里德曼巴西之行的背景和影响也在论文中得到解决。