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Persistent link: https://www.econbiz.de/10012270955
This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate-spending equation that accounts for the effects of the...
Persistent link: https://www.econbiz.de/10012474362
Brazil in the period 1974/94 under the assumption that the monetary policy is passive and that expectations are adaptive. The …
Persistent link: https://www.econbiz.de/10011997229
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Using long, low frequency data on money and output over 1884-1996 for Argentina and over 1912-1995 for Brazil, it is …
Persistent link: https://www.econbiz.de/10014141014
This paper examines the long-run validity of purchasing power parity (PPP) for four high-inflation countries. The method of Zivot and Andrews (1992) is employed to detect the time-series behavior of the exchange rates and consumer price indices of these countries. We find that these variables...
Persistent link: https://www.econbiz.de/10014071881
In recent years, many researchers have focused on the development of new probability distributions. The massive amount of data available in real life encourages the study of models which can provide more flexibility than the classical ones do. In this paper, we tackle the thorny problem related...
Persistent link: https://www.econbiz.de/10014079994
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contribution of industries to development in the early 20th century; indexation as hyperinflation in the late 20th century; growth … the relationship between non-tradables, indexation and hyperinflation. Section 6 concludes with a brief discussion of the …/value Distance from international markets and a continental geographic size made transport costs in Brazil historically prohibitive …
Persistent link: https://www.econbiz.de/10014418129