Unlike most hyperinflations, during Zimbabwe's recent hyperinflation, as in Revolutionary France, the currency ended before the regime. The empirical results here suggest that the Reserve Bank of Zimbabwe operated on the correct side of the inflation tax Laffer curve before abandoning the...

The delayed end to Zimbabwe's hyperinflation in 2009 gave rise to an official dollarization. Before then, the Reserve Bank of Zimbabwe (RBZ) operated on the correct side of the inflation tax Laffer curve. Estimated seignorage maximizing rates derive from Bayesian, time-varying parameter,...

During Zimbabwe’s hyperinflation that ended in 2009, people turned to an illegal round-tripping transaction called “burning money” to preserve purchasing power. The transaction involved illegally acquiring foreign currency at the official rate before converting back to domestic currency in...

In Miller and Ndhlela (2020), we estimate semi-elasticities of the real monetary base and currency in circulation with respect to inflation during Zimbabwe's hyperinflation using Del Negro and Primiceri's (2015) Bayesian time varying structural autoregression (TVP-SVAR) method. The estimated...