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countries over the years 1981-2000. It finds that memories of hyperinflation are there to last, whereas those of less drastic …
Persistent link: https://www.econbiz.de/10011605141
We delve into Venezuela's 2018-2019 hyperinflation episode to examine the policy constraints autocratic governments …
Persistent link: https://www.econbiz.de/10015418068
We use data on immigrants who live in the United States to study the effects of exposure to hyperinflation on … occupational choice. To do so, we calculate the number of years an individual had lived under hyperinflation before arriving to the … point. This effect depends on the age individuals had when exposed to hyperinflation. In particular, it is stronger for …
Persistent link: https://www.econbiz.de/10009783710
parallel market devaluation-inflation spiral, which threatens to turn into hyperinflation. Nevertheless, we argue that … hyperinflation, according to the proposed post-Keynesian framework (the flight to foreign currency), does not materialise despite …
Persistent link: https://www.econbiz.de/10011747158
Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially … pushing a subset of European countries into hyperinflation shortly after the end of the war. Germany, Austria, Poland, and … elevated economic uncertainty directly affected inflation dynamics and the incidence of hyperinflation during the interwar …
Persistent link: https://www.econbiz.de/10011855599
We examine how macroeconomic performance, mainly in the role of high rates of inflation, affected earnings inequality in the 1980s and early 1990s in Brazil. The results-based initially on national timeseries, and then on the relatively novel sub-national panel time-series T N data and...
Persistent link: https://www.econbiz.de/10010265089
In this paper, I present a unified and micro-founded explanation for various types of inflation without assuming ad hoc frictions or irrationality. The explanation is similar to the conventional inflation theory in the sense that an independent central bank can control inflation and also similar...
Persistent link: https://www.econbiz.de/10005617055
Using a variant of the Cagan model with rational expectations, this paper shows that expected stabilization can result in a budget deficit in excess of the maximum inflation tax. A cap on the deficit dampens inflation expectations and raises real balances, thus increasing the yield of the...
Persistent link: https://www.econbiz.de/10005792067
Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under adaptive learning. We reconsider this issue and analyze the full set of solutions for the linearized model. Our main focus is on stationary hyperinflationary paths near the...
Persistent link: https://www.econbiz.de/10010298287
take a life of their own leading to hyperinflation. The traditional explanation is that the Central Bank has to finance the … beyond that limit (or any fiscal deficit for that matter) leads to hyperinflation. In this paper we demonstrate that very …
Persistent link: https://www.econbiz.de/10012099675