@techreport{Nielsen2008Explosive,
abstract = {Empirical analyses of Cagan?s money demand schedule for hyper-inflation have largely ignored the explosive nature of hyper-inflationary data. It is argued that this contributes to an (i) inability to model the data to the end of the hyper-inflation, and to (ii) discrepancies between ?estimated? and ?actual? inflation tax. A simple solution to these issues is found by replacing the conventional measure of inflation by the cost of holding money.},
address = {Kiel},
author = {Bent Nielsen},
copyright = {http://creativecommons.org/licenses/by-nc/2.0/de/deed.en},
keywords = {E41; C32; 330; Cost of holding money; co-explosiveness; co-integration; explosive processes; hyper-inflation; Hyperinflation; Preisstatistik; Inflationssteuer; Geldnachfrage; Kosten; Sch\"{a}tzung; Theorie; Jugoslawien - Nachfolgestaaten},
language = {eng},
number = {2008-9},
publisher = {Kiel Institute for the World Economy (IfW)},
title = {On the Explosive Nature of Hyper-Inflation Data},
type = {Economics Discussion Papers / Institut f\"{u}r Weltwirtschaft},
url = {http://hdl.handle.net/10419/17981},
year = {2008}
}
