On the explosive nature of hyper-inflation data


Speaker:Bent Nielsen, Nuffield College, University of Oxford
Website: http://www.nuff.ox.ac.uk/Users/Nielsen/
Date: Wednesday 19 December 2007
Time: 16:15
Location: Lecture Room D, Streatham Court

Further details

On the explosive nature of hyper-inflation data - Empirical analyses of Cagan’s money demand schedule for hyperinflation 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