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Zimbabwe has recently experienced record hyperinflation of 80 billion percent a month. This paper uses new data from … Zimbabwe to investigate money demand under hyperinflation using an ARDL estimation for the period 1980-2008. The results …
Persistent link: https://www.econbiz.de/10013143318
substantially simplify the inference problem and increase the speed of learning on the part of the agents. However, under certain …
Persistent link: https://www.econbiz.de/10005353239
This paper develops a nonlinear vector autoregression of inflation and money growth subject to changes in regime. The regimes are fully characterized by the mean and variance of inflation and are conjectured to be the result of alternative government policies. Agents are unable to observe...
Persistent link: https://www.econbiz.de/10005382345
results obtained in this study support the Cagan model of money demand in the East European hyperinflation experiences of the …
Persistent link: https://www.econbiz.de/10005187400
issue, we study a model of hyperinflation and learning in an attempt to better understand the volatility in movements of … expectations, money, and prices. The findings surprisingly imply that the dynamics under neural network learning appear to support … the outcome achieved under least squares learning reported in the earlier literature. Relaxing the assumption that …
Persistent link: https://www.econbiz.de/10005342881
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 test for the populist view of state capture in Latin America be- tween 1970 and 2003. The empirical results-based on the relatively novel panel time-series data and analysis - confirm the prediction that recently-elected governments coming into power after periods of po- litical dictatorship,...
Persistent link: https://www.econbiz.de/10005103357
The estimation of an ordered probit model for currency reforms trying to end 31 hyperinflations and three big inflations of the 20th century shows that the introduction of an independent central bank and the adoption of a credibly fixed exchange rate are crucial for the success of a currency...
Persistent link: https://www.econbiz.de/10011390618
We test for the populist view of inflation in Latin America between 1970 and 2007. The empirical results - based on the relatively novel panel time-series data and analysis - confirm the theoretical prediction that recently elected governments coming into power after periods of political...
Persistent link: https://www.econbiz.de/10010301526
well as disappearance of good business ethics have been found to be some of the consequences of hyperinflation on the human …
Persistent link: https://www.econbiz.de/10008839187