Dollarization is usually an acute monetary phenomenon. It accompanies short-lived infla-tionary processes. In Latin America, it is usual to hear of a threat of dollarization, but effecti-ve dollarization only takes place with hyperinflation. An exception is Argentina, where there is a historically new phenomenon: a chronic, long-lived dollarization. If chronic (Inertial) infla-tion is particularly difficult to control, chronic dollarization is still more difficult.

Written just before the new president of Peru, Alberto Fujimori, takes the position, this article incorporates the necessity of banish the populism and take emergencial measures toge-ther with long-run measures in order to obtain an effective stabilization of the economy. It emphasizes what could be considered consensus among the economists from countries that have experienced chronic inflation: equilibrium of budget deficit, shock therapy, necessity of income policy. It is conc1uded that in spite of the costs of an adjustment to be done, the less privileged classes will suffer much less than in continuous inflationary context.

In this study we briefly summarize the difficulties faced by the developing countries concer-ning their foreign debt. We also discuss the factors, which stand behind the ratios of indebtness most commonly used. Finally we present a summary of the main proposals which have been advanced to reduce the foreign debt of the developing countries.

This paper presents the theoretical foundations of the induced innovation model. We try to show its inadequacy to explain the rise of a new technological paradigm. The validity of the model is restricted by its central hypothesis as to the economic rationality of productive agents that are induced to introduce innovations to save the more expensive production factor. Supply-side constraints on innovations are neglected, but they are very important to explain the technical and ‘scientific characteristics that define a new technological pattern; so, the fac-tor-saving bias is the only thing the model can say about a new technological paradigm to be generated.

The Brazilian Financial Housing System is on the verge of virtual insolvency. The conti-nued presence of inflation, coupled with an inconsistent system of debt indexation (the so-cal-led monetary correction), further aggravated both by a plethora of concessions given to the borrowers and by some ill-conceived procedures that were imposed by a sequence of stabiliza-tion plans (Cruzado, Summer and Collor) has resulted in a potential imbalance of USS 20 bil-lions for the Fundo de Compensação de Variações Saláriais — FVCS (Compensation Fund of Wage Variations). Discussing the basic inconsistency of the debt indexation scheme that is still being used, the paper points out the origin of the problem and offers some suggestions on how it could be reduced.

Starting from Raúl Prebisch’s personal and intellectual trajectory — from an young neoclassi-cal at service of Argentinean oligarchy to a critical of Latin-American development — this pa-per provides a de tailed analysis and a critical appraisal of his ultimate contribution on peripherical capitalism. In conclusion, it is intended to claim that his search for an alternative appro-ach to Latin-American capitalism has not succeeded in breaking up the boundaries of bourge-ois political economy.

This paper tries to analyse the scope of a monetary policy in the context of endogenous money, instability, and capital mobility. It starts with the post keynesian critique to the mains-tream, and concludes with the impotence of the central bank to reach the stability of prices in Brazil through the use of the classical instruments on monetary policy.