Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/18034
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorNielsen, Benten
dc.date.accessioned2009-01-28T15:06:16Z-
dc.date.available2009-01-28T15:06:16Z-
dc.date.issued2008-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v2|h2008-21|nKiel Institute for the World Economy (IfW)|lKiel|y2008|p1-29en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2008-21en
dc.identifier.urihttp://hdl.handle.net/10419/18034-
dc.description.abstractEmpirical 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. Using data from the extreme Yugoslavian hyper-inflation it is shown that a linear analysis of levels of prices and money fails in addressing these issues even when the explosiveness is taken into account. The explanation is that log real money has random walk behaviour while the growth of log prices is explosive. A simple solution to these issues is found by replacing the conventional measure of inflation by the cost of holding money.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelC32en
dc.subject.jelE41en
dc.subject.ddc330en
dc.subject.keywordCost of holding moneyen
dc.subject.keywordco-explosivenessen
dc.subject.keywordco-integrationen
dc.subject.keywordexplosive processesen
dc.subject.keywordhyperinflationen
dc.subject.stwHyperinflationen
dc.subject.stwPreisstatistiken
dc.subject.stwInflationssteueren
dc.subject.stwGeldnachfrageen
dc.subject.stwKostenen
dc.subject.stwSchätzungen
dc.subject.stwTheorieen
dc.subject.stwJugoslawien - Nachfolgestaatenen
dc.titleOn the Explosive Nature of Hyper-Inflation Data-
dc.typeArticleen
dc.identifier.ppn570711282en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:7334en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume2en
econstor.citation.issue2008-21en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2008en
econstor.citation.startpage1en
econstor.citation.endpage29en

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.