| 000 | 02424cam a22003497 4500 | ||
|---|---|---|---|
| 001 | w8930 | ||
| 003 | NBER | ||
| 005 | 20211020113216.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2002 mau fo 000 0 eng d | ||
| 100 | 1 |
_aFischer, Stanley. _93126 |
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| 245 | 1 | 0 |
_aModern Hyper- and High Inflations / _cStanley Fischer, Ratna Sahay, Carlos A. Vegh. |
| 260 |
_aCambridge, Mass. _bNational Bureau of Economic Research _c2002. |
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| 300 |
_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w8930 |
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| 500 | _aMay 2002. | ||
| 520 | 3 | _aSince 1947, hyperinflations (by Cagan's definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using the 100 percent threshold as the basis for a definition of very high inflation episodes, this paper examines the main characteristics of such inflations. Among other things, we find that (i) close to 20 percent of countries have experienced inflation above 100 percent per annum; (ii) higher inflation tends to be more unstable; (iii) in high inflation countries, the relationship between the fiscal balance and seigniorage is strong both in the short and long-run; (iv) inflation inertia decreases as average inflation rises; (v) high inflation is associated with poor macroeconomic performance; and (vi) stabilizations from high inflation that rely on the exchange rate as the nominal anchor are expansionary. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aF41 - Open Economy Macroeconomics _2Journal of Economic Literature class. |
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| 690 | 7 |
_aE63 - Comparative or Joint Analysis of Fiscal and Monetary Policy • Stabilization • Treasury Policy _2Journal of Economic Literature class. |
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| 700 | 1 |
_aSahay, Ratna. _920000 |
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| 700 | 1 | _aVegh, Carlos A. | |
| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w8930. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w8930 |
| 856 |
_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w8930 |
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| 942 |
_2ddc _cW-PAPER |
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_c339261 _d297823 |
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