| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP473 |
| DP473 The Hyperinflation Model of Money Demand Revisited | |
| Mark Taylor | |
| 发表日期 | 1990-10-01 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | In this paper we propose a test of the hyperinflation model of money demand, which is valid under any assumption concerning agents' expectations, subject only to the restriction that forecasting errors are stationary. It is also demonstrated that highly efficient estimates of the model can be obtained, and restrictions on them tested, under the same weak assumption. Finally, it is shown of rational expectation. The arguments are illustrated by analysis of the classic data on European hyperflations previously analysed by Cagan (1956), Barro (1970) and Abel, Dornbusch, Huizinga and Marcus (1979). |
| 主题 | International Macroeconomics |
| 关键词 | Co integration Expectations Hyperinflation Money demand |
| URL | https://cepr.org/publications/dp473 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529628 |
| 推荐引用方式 GB/T 7714 | Mark Taylor. DP473 The Hyperinflation Model of Money Demand Revisited. 1990. |
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