Zimbabwe has recently experienced record hyperinflation of 80 billion percent a month. This paper uses new data from … Zimbabwe to investigate money demand under hyperinflation using an ARDL estimation for the period 1980-2008. The results … inflation rate. Evidence is also presented that suggests prices are being driven by increases in the money supply rather than by …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …