The Brazilian Connection in Milton Friedman’s 1967 Presidential Address and 1976 Nobel Lecture
探讨弗里德曼如何利用巴西1964-66年通胀稳定案例，支持其自然率假说和指数化观点，并分析其1973年巴西之行的影响。
This article investigates the role played by Friedman’s interpretation of 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 and growing economy prompted him to visit the country in 1973. The context and implications of Friedman’s Brazilian travel are also tackled in the paper.