The Demand for Money During High Inflation Episodes : Some Latin American Evidenceon the Cagan Model /

This paper examines the demand for money under conditions of very high inflation in Argentina, Bolivia, Brazil, Chile and Peru during the 1970s and 1980s. We test whether the monetary and inflationary experiences of these countries can be adequately characterized by the Cagan (1956) model, using an...

Celý popis

Podrobná bibliografie
Hlavní autor: Taylor, Mark
Další autoři: Phylaktis, Kate
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 1991.
Edice:IMF Working Papers; Working Paper ; No. 1991/048
On-line přístup:Full text available on IMF
LEADER 01661cas a2200253 a 4500
001 AALejournalIMF008484
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781451846683 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a Taylor, Mark. 
245 1 4 |a The Demand for Money During High Inflation Episodes :   |b Some Latin American Evidenceon the Cagan Model /  |c Mark Taylor, Kate Phylaktis. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1991. 
300 |a 1 online resource (22 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper examines the demand for money under conditions of very high inflation in Argentina, Bolivia, Brazil, Chile and Peru during the 1970s and 1980s. We test whether the monetary and inflationary experiences of these countries can be adequately characterized by the Cagan (1956) model, using an econometric procedure which is not reliant on any particular assumption concerning expectations formation except that forecasting errors are stationary. We also examine the importance of foreign asset substitution in domestic portfolios. 
538 |a Mode of access: Internet 
700 1 |a Phylaktis, Kate. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1991/048 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1991/048/001.1991.issue-048-en.xml  |z IMF e-Library