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| Title: | | On the Explosive Nature of Hyper-Inflation Data  |
| Authors: | | Nielsen, Bent |
| Issue Date: | | 2008 |
| Series/Report no.: | | Economics Discussion Papers / Institut für Weltwirtschaft 2008-9 |
| 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. |
| Subjects: | | Cost of holding money co-explosiveness co-integration explosive processes hyper-inflation |
| JEL: | | E41 C32 |
| Creative Commons License: | |  |
| Document Type: | | Working Paper |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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