000			01820cam a22003137 4500
001			w0635
003			NBER
005			20211020115428.0
006			m o d
007			cr cnu||||||||
008			210910s1981 mau fo 000 0 eng d
100	1		_aFlood, Robert P.
245	1	0	_aProcess Consistency and Monetary Reform: _bFurther Evidence and Implications / _cRobert P. Flood, Peter M. Garber.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c1981.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w0635
500			_aFebruary 1981.
520	3		_aIn this paper we provide additional evidence that process consistency may have materialized as a restrictive constraint on the money generation process. In addition to recomputing the time series of process consistency probabilities using new data from the German case, we also supply our empirical technique to the data from the other hyperinflations studied by Cagan. We interpret our results as evidence hearing on the type of transversality condition studied by Brock or by Brock and Scheinkman as a sufficient condition to insure a unique equilibrium in optimizing models with perfect foresight and money.
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
700	1		_aGarber, Peter M.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w0635.
856	4	0	_uhttps://www.nber.org/papers/w0635
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w0635
942			_2ddc _cW-PAPER
999			_c347965 _d306527