| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8930 |
| 来源ID | Working Paper 8930 |
| Modern Hyper- and High Inflations | |
| Stanley Fischer; Ratna Sahay; Carlos A. Vegh | |
| 发表日期 | 2002-05-16 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | Since 1947, hyperinflations (by Cagan's definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using the 100 percent threshold as the basis for a definition of very high inflation episodes, this paper examines the main characteristics of such inflations. Among other things, we find that (i) close to 20 percent of countries have experienced inflation above 100 percent per annum; (ii) higher inflation tends to be more unstable; (iii) in high inflation countries, the relationship between the fiscal balance and seigniorage is strong both in the short and long-run; (iv) inflation inertia decreases as average inflation rises; (v) high inflation is associated with poor macroeconomic performance; and (vi) stabilizations from high inflation that rely on the exchange rate as the nominal anchor are expansionary. |
| 主题 | International Economics ; International Macroeconomics ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w8930 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566538 |
| 推荐引用方式 GB/T 7714 | Stanley Fischer,Ratna Sahay,Carlos A. Vegh. Modern Hyper- and High Inflations. 2002. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8930.pdf（472KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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