Sokic, Alexandre - In: Journal of Institutional and Theoretical Economics (JITE) 166 (2010) 3, pp. 387-396
This paper shows firstly that the cash-in-advance model presents exactly the same kind of limitations as the money-in-the-utility-function model for characterizing explosive hyperinflation. These limitations relate to sufficient money essentiality in the sense of Scheinkman [1980]. Thereby this...