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Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence

In: Exploring the Mechanics of Chronic Inflation and Hyperinflation

Author

Listed:
  • Fernando Holanda Barbosa

    (Getulio Vargas Foundation Graduate School of Economics (EPGE/FGV))

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.

Suggested Citation

  • Fernando Holanda Barbosa, 2017. "Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence," SpringerBriefs in Economics, in: Exploring the Mechanics of Chronic Inflation and Hyperinflation, chapter 0, pages 97-112, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-44512-0_9
    DOI: 10.1007/978-3-319-44512-0_9
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