The Transition from Hyperinflation to Price Stability: Further Evidence

Pierre Siklos

Eastern Economic Journal, 1990, vol. 16, issue 1, 65-69

Abstract: This note provides an explanation for the presence of inflation Granger causing money growth after the end of the Hungarian hyperinflation of 1945-46 reported by Gail E. Makinen and G. Thomas Woodward (1988). Using the framework introduced by Thomas J. Sargent and Neil Wallace (1981), it is shown that following the Hungarian hyperinflation, as in all the other cases considered by Makinen and Woodward, inflation and money growth are not causally related to each other once the Granger-Sims tests are conducted conditional on debt growth.

Date: 1990
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Related works:
Working Paper: THE TRANSITION FROM HYPERINFLATION TO PRICE STABILITY: FURTHER EVIDENCE (1989)
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:16:y:1990:i:1:p:65-69

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