Stability problems in hyperinflation models

Helmut Zink

No 268, Discussion Papers, Series I from University of Konstanz, Department of Economics

Abstract: Traditional monetary models of hyperinflation suffer from severe stability problems: equilibria with realistic comparative-static properties are unstable while those with unrealistic comparative statics are stable. In the present paper I develop a model of hyperinflation which is based on an analysis of firms' payment behavior and which uses a weaker concept of stability. The stability properties of this model are consistent with the empirical evidence.

Keywords: Monetary theory; hyperinflation; stability (search for similar items in EconPapers)
JEL-codes: C62 E31 (search for similar items in EconPapers)
Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:kondp1:268

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