Adam, Klaus (contributor); Evans, George W. (contributor); … - 2003
. Evans
2
and Seppo Honkapohja
3
March 17, 2003
Abstract:
Earlier studies of the seigniorage inflation model have … found that the high-inflation steady
state is not stable under adaptive learning. We reconsider this issue and analyze the … full set of
solutions for the linearized model. Our main focus is on stationary hyperinflationary paths
near the high-inflation …