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The Resource Exploring the Mechanics of Chronic Inflation and Hyperinflation, by Fernando de Holanda Barbosa, (electronic resource)

Exploring the Mechanics of Chronic Inflation and Hyperinflation, by Fernando de Holanda Barbosa, (electronic resource)

Creator
Summary
This book presents a theoretical framework to explain chronic inflation and hyperinflation. The roots of these two phenomenon are a fiscal monetary regime in which money issues finance the public deficit. Chronic inflation is modeled by using both the old and the new Keynesian model, with a different policy rule. Instead of using the Taylor rule, the central bank policy rule states that money is issued to finance the public deficit. The chronic inflation models take into account the fact that indexation mechanisms adjust prices and wages, yielding the inertial component of inflation. The dynamics of these models can be very unstable under parameter changes or shocks that hit the economy. The previous hyperinflation models surveyed in this book attempt to explain hyperinflation as a bubble phenomenon because they assume a constant real deficit financed by money. The mechanics of hyperinflation models in this book explains hyperinflation by a fiscal crisis, characterized by an increasing fiscal deficit. This fiscal crisis yields an intertemporal budget constraint that is not sustainable. The analysis of the pathology of hyperinflation uses the same tools employed to understand the pathologies of public debt and external debt crises. The hyperinflation model allows a taxonomy of hyperinflations, namely bubble, weak and strong, that can be tested with the inflation tax revenue curve.--
Language
eng
Work
Publication
Extent
1 online resource (X, 116 pages)
Contents
  • Preface
  • I - Hyperinflation Theories: an Abridged Survey
  • II - The Origins and Consequences of Inflation in Latin America
  • III - Chronic Inflation and Hyperinflation
  • IV - Inflation Tax and Money Essentiality
  • V - Hyperinflation: Inflation Tax and Economic Policy Regime
  • VI - Competitive Equilibrium Hyperinflation under Rational Expectations
  • VII - Hyperinflation Pitfalls: Fundamentals versus Bubbles
  • VIII - Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence
  • References
Isbn
9783319445120
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-3-319-44512-0
Instance
Label
Exploring the Mechanics of Chronic Inflation and Hyperinflation
Title
Exploring the Mechanics of Chronic Inflation and Hyperinflation
Statement of responsibility
by Fernando de Holanda Barbosa
Creator
Subject
Language
eng
Summary
This book presents a theoretical framework to explain chronic inflation and hyperinflation. The roots of these two phenomenon are a fiscal monetary regime in which money issues finance the public deficit. Chronic inflation is modeled by using both the old and the new Keynesian model, with a different policy rule. Instead of using the Taylor rule, the central bank policy rule states that money is issued to finance the public deficit. The chronic inflation models take into account the fact that indexation mechanisms adjust prices and wages, yielding the inertial component of inflation. The dynamics of these models can be very unstable under parameter changes or shocks that hit the economy. The previous hyperinflation models surveyed in this book attempt to explain hyperinflation as a bubble phenomenon because they assume a constant real deficit financed by money. The mechanics of hyperinflation models in this book explains hyperinflation by a fiscal crisis, characterized by an increasing fiscal deficit. This fiscal crisis yields an intertemporal budget constraint that is not sustainable. The analysis of the pathology of hyperinflation uses the same tools employed to understand the pathologies of public debt and external debt crises. The hyperinflation model allows a taxonomy of hyperinflations, namely bubble, weak and strong, that can be tested with the inflation tax revenue curve.--
Member of
Assigning source
Provided by publisher
http://library.link/vocab/creatorName
Barbosa, Fernando de Holanda
Image bit depth
0
Literary form
non fiction
Nature of contents
dictionaries
Series statement
Springer eBooks.
http://library.link/vocab/subjectName
  • Tax accounting
  • Tax laws
  • Finance, Public
  • Macroeconomics
  • Economics
  • Macroeconomics/Monetary Economics//Financial Economics
  • Public Finance
  • Business Taxation/Tax Law
Label
Exploring the Mechanics of Chronic Inflation and Hyperinflation, by Fernando de Holanda Barbosa, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-3-319-44512-0
Instantiates
Publication
Antecedent source
mixed
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
not applicable
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Preface -- I - Hyperinflation Theories: an Abridged Survey -- II - The Origins and Consequences of Inflation in Latin America -- III - Chronic Inflation and Hyperinflation -- IV - Inflation Tax and Money Essentiality -- V - Hyperinflation: Inflation Tax and Economic Policy Regime -- VI - Competitive Equilibrium Hyperinflation under Rational Expectations -- VII - Hyperinflation Pitfalls: Fundamentals versus Bubbles -- VIII - Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence -- References
Control code
978-3-319-44512-0
Dimensions
unknown
Extent
1 online resource (X, 116 pages)
File format
multiple file formats
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9783319445120
Level of compression
uncompressed
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1007/978-3-319-44512-0
Other physical details
37 illustrations
Quality assurance targets
absent
Reformatting quality
access
Specific material designation
remote
System control number
(OCoLC)960907613
Label
Exploring the Mechanics of Chronic Inflation and Hyperinflation, by Fernando de Holanda Barbosa, (electronic resource)
Link
https://eui.idm.oclc.org/login?url=http://dx.doi.org/10.1007/978-3-319-44512-0
Publication
Antecedent source
mixed
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
not applicable
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
Preface -- I - Hyperinflation Theories: an Abridged Survey -- II - The Origins and Consequences of Inflation in Latin America -- III - Chronic Inflation and Hyperinflation -- IV - Inflation Tax and Money Essentiality -- V - Hyperinflation: Inflation Tax and Economic Policy Regime -- VI - Competitive Equilibrium Hyperinflation under Rational Expectations -- VII - Hyperinflation Pitfalls: Fundamentals versus Bubbles -- VIII - Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence -- References
Control code
978-3-319-44512-0
Dimensions
unknown
Extent
1 online resource (X, 116 pages)
File format
multiple file formats
Form of item
  • online
  • electronic
Governing access note
Use of this electronic resource may be governed by a license agreement which restricts use to the European University Institute community. Each user is responsible for limiting use to individual, non-commercial purposes, without systematically downloading, distributing, or retaining substantial portions of information, provided that all copyright and other proprietary notices contained on the materials are retained. The use of software, including scripts, agents, or robots, is generally prohibited and may result in the loss of access to these resources for the entire European University Institute community
Isbn
9783319445120
Level of compression
uncompressed
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1007/978-3-319-44512-0
Other physical details
37 illustrations
Quality assurance targets
absent
Reformatting quality
access
Specific material designation
remote
System control number
(OCoLC)960907613

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