The Transition From Hyperinflation To Price Stability: Further Evidence
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.
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||1989|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (519) 884-0710 ext 2056
Fax: (519) 884-0201
Web page: http://www.wlu.ca/sbe/economics/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
- Siklos, Pierre L, 1990.
" Hyperinflations: Their Origins, Development and Termination,"
Journal of Economic Surveys,
Wiley Blackwell, vol. 4(3), pages 225-48.
- Siklos, P.L., 1990. "Hyperinflation: Their Origins, Development And Termination," Working Papers 90135, Wilfrid Laurier University, Department of Economics.
- Hendry, David F & Mizon, Grayham E, 1978. "Serial Correlation as a Convenient Simplification, not a Nuisance: A Comment on a Study of the Demand for Money by the Bank of England," Economic Journal, Royal Economic Society, vol. 88(351), pages 549-63, September.
- Cooley, Thomas F. & Leroy, Stephen F., 1985. "Atheoretical macroeconometrics: A critique," Journal of Monetary Economics, Elsevier, vol. 16(3), pages 283-308, November.
- Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
- Sargent, Thomas J & Wallace, Neil, 1973. "Rational Expectations and the Dynamics of Hyperinflation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 14(2), pages 328-50, June.
- Evans, Paul, 1978. "Time-Series Analysis of the German Hyperinflation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(1), pages 195-209, February.
- Raj, Baldev & Siklos, Pierre L, 1986. "The Role of Fiscal Policy in the St. Louis Model: An Evaluation and Some New Evidence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(3), pages 287-94, July.
- Gail E. Makinen & G. Thomas Woodward, 1988. "The Transition from Hyperinflation to Stability: Some Evidence," Eastern Economic Journal, Eastern Economic Association, vol. 14(1), pages 19-26, Jan-Mar.
When requesting a correction, please mention this item's handle: RePEc:wlu:wpaper:89131. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Andrei Kovacsik)
If references are entirely missing, you can add them using this form.