| 书目名称 | Exploring the Mechanics of Chronic Inflation and Hyperinflation |
| 编辑 | Fernando de Holanda Barbosa |
| 视频video | |
| 概述 | Explains chronic inflation by means of a Keynesian model, in which public deficits are financed by money.Shows that the origin of hyperinflation is an unsustainable intertemporal government budget con |
| 丛书名称 | SpringerBriefs in Economics |
| 图书封面 |  |
| 描述 | .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 p |
| 出版日期 | Book 2017 |
| 关键词 | Chronic Inflation; Hyperinflation; Intertemporal Government Budget Constraint; Inflation Tax; Hyperinfla |
| 版次 | 1 |
| doi | https://doi.org/10.1007/978-3-319-44512-0 |
| isbn_softcover | 978-3-319-44511-3 |
| isbn_ebook | 978-3-319-44512-0Series ISSN 2191-5504 Series E-ISSN 2191-5512 |
| issn_series | 2191-5504 |
| copyright | The Author(s) 2017 |
发表于 2025-3-21 19:07:18
