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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...
Persistent link: https://www.econbiz.de/10012893482
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,...
Persistent link: https://www.econbiz.de/10012856378
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...
Persistent link: https://www.econbiz.de/10013322428
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...
Persistent link: https://www.econbiz.de/10013310830
Persistent link: https://www.econbiz.de/10013411236