Nielsen, Bent - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-21, pp. 1-29
Empirical analyses of Cagan's money demand schedule for hyper-inflation have largely ignored the explosive nature of … hyper-inflationary data. It is argued that this contributes to an (i) inability to model the data to the end of the hyper-inflation …, and to (ii) discrepancies between 'estimated' and 'actual' inflation tax. Using data from the extreme Yugoslavian hyper-inflation …