MONEY DEMAND AND INFLATION IN YUGOSLAVIA, 1980-1989

被引：25

作者：

FRENKEL, JA ^{[1
]}

TAYLOR, MP ^{[1
]}

机构：

[1] INT MONETARY FUND,WASHINGTON,DC 20431

来源：

JOURNAL OF MACROECONOMICS | 1993年 / 15卷 / 03期

关键词：

D O I：

10.1016/0164-0704(93)90004-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

After discussing the relevant historical and institutional background to Yugoslav monetary and inflationary experiences, 1980-1989, Cagan's hyperinflation model is tested using an econometric technique which is unrestrictive with respect to assumptions concerning expectations formation. We also examine the hypothesis that the expected return to holding foreign assets was an important determinant of domestic money holding; test alternative hypotheses of expectations formation; and test a buffer-stock version of the Cagan model. The results support the Cagan model (especially but not exclusively when coupled with an adaptive-regressive expectations mechanism) as a description of the salient features of the data.

引用

页码：455 / 481

页数：27

共 44 条

[21]

Frenkel J., 1975, J MONETARY ECON, V1, P403, DOI [https://doi.org/10.1016/0304-3932(76)90011-8, DOI 10.1016/0304-3932(76)90011-8]

[22] FURTHER EVIDENCE ON EXPECTATIONS AND THE DEMAND FOR MONEY DURING THE GERMAN HYPER-INFLATION [J].