Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence

Fernando Holanda Barbosa
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Fernando Holanda Barbosa: Getulio Vargas Foundation Graduate School of Economics (EPGE/FGV)

Chapter Chapter 9 in Exploring the Mechanics of Chronic Inflation and Hyperinflation, 2017, pp 97-112 from Springer

Abstract: Abstract The monthly (continuous) inflation rate that maximizes the inflation tax revenue varies widely (from 18.3 to 143 %), according to semi-elasticity estimates for the German hyperinflation made by several authors (Cagan 1956; Barro 1970; Frenkel 1977; Sargent 1977; Goodfriend 1982; Burmeister and Wall 1987; Christiano 1987; Casella 1989; Taylor 1991; Engsted 1993; Imrohoroglu 1993; Michael et al. 1994). Those estimates lead one to conclude that during hyperinflation the German government could have obtained more tax revenue with lower inflation rates.

Keywords: Inflation Rate; Money Demand; Real Quantity; Financial Innovation; Stochastic Trend (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-319-44512-0_9

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DOI: 10.1007/978-3-319-44512-0_9

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