Economics at your fingertips  

Recovering Historical Inflation Data from Postage Stamps Prices

Philip Hans Franses and Eva Janssens ()
Additional contact information
Eva Janssens: Econometric Institute, Erasmus School of Economics, Burgemeester Oudlaan 50, 3062PA Rotterdam, The Netherlands

Journal of Risk and Financial Management, 2017, vol. 10, issue 4, 1-11

Abstract: For many developing countries, historical inflation figures are rarely available. We propose a simple method that aims to recover such figures of inflation using prices of postage stamps issued in earlier years. We illustrate our method for Suriname, where annual inflation rates are available for 1961 until 2015, and where fluctuations in inflation rates are prominent. We estimate the inflation rates for the sample 1873 to 1960. Our main finding is that high inflation periods usually last no longer than 2 or 3 years. An Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH) model for the recent sample and for the full sample with the recovered inflation rates shows the relevance of adding the recovered data.

Keywords: inflation; postage stamps; price recovery; historical time series; EGARCH (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) (application/pdf) (text/html)

Related works:
Working Paper: Recovering historical inflation data from postal stamps prices (2016) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Journal of Risk and Financial Management is currently edited by Prof. Dr. Michael McAleer

More articles in Journal of Risk and Financial Management from MDPI, Open Access Journal
Bibliographic data for series maintained by XML Conversion Team ().

Page updated 2019-04-11
Handle: RePEc:gam:jjrfmx:v:10:y:2017:i:4:p:21-:d:118742