Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68875
Authors: 
Zink, Helmut
Year of Publication: 
1993
Series/Report no.: 
Diskussionsbeiträge: Serie 1, Fakultät für Wirtschaftswissenschaften und Statistik, Universität Konstanz 268
Abstract: 
Traditional monetary models of hyperinflation suffer from severe stability problems: equilibria with realistic comparative-static properties are unstable while those with unrealistic comparative statics are stable. In the present paper I develop a model of hyperinflation which is based on an analysis of firms' payment behavior and which uses a weaker concept of stability. The stability properties of this model are consistent with the empirical evidence.
Subjects: 
Monetary theory
hyperinflation
stability
JEL: 
E31
C62
Document Type: 
Working Paper

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