Long-term inflation outcomes after hyperinflation: theory and evidence

This paper shows cross-country evidence that indicates that countries that have experienced hyperinflation display significantly lower long-term rates of inflation than countries that lack the same experience. A model to rationalize the main result is also presented. The suggested explanation for t...

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Autor principal: Guerrero, Federico
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2005
Materias:
Ciencias Económicas
hyperinflations
monetary institutions
inflation
central banks
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/168829
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-168829
record_format dspace
spelling I19-R120-10915-1688292024-08-21T20:02:12Z http://sedici.unlp.edu.ar/handle/10915/168829 Long-term inflation outcomes after hyperinflation: theory and evidence Guerrero, Federico 2005-11 2005 2024-08-21T16:31:54Z en Ciencias Económicas hyperinflations monetary institutions inflation central banks This paper shows cross-country evidence that indicates that countries that have experienced hyperinflation display significantly lower long-term rates of inflation than countries that lack the same experience. A model to rationalize the main result is also presented. The suggested explanation for the documented empirical regularity is that hyperinflations reduce the social costs of increasing the collection of conventional taxes relative to the collection of seignorage by showing the downsides of resorting to the printing press in a crystal-clear way. Facultad de Ciencias Económicas Objeto de conferencia Objeto de conferencia http://creativecommons.org/licenses/by-nc-sa/4.0/ Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0) application/pdf
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
hyperinflations
monetary institutions
inflation
central banks
spellingShingle Ciencias Económicas
hyperinflations
monetary institutions
inflation
central banks
Guerrero, Federico
Long-term inflation outcomes after hyperinflation: theory and evidence
topic_facet Ciencias Económicas
hyperinflations
monetary institutions
inflation
central banks
description This paper shows cross-country evidence that indicates that countries that have experienced hyperinflation display significantly lower long-term rates of inflation than countries that lack the same experience. A model to rationalize the main result is also presented. The suggested explanation for the documented empirical regularity is that hyperinflations reduce the social costs of increasing the collection of conventional taxes relative to the collection of seignorage by showing the downsides of resorting to the printing press in a crystal-clear way.
format Objeto de conferencia
Objeto de conferencia
author Guerrero, Federico
author_facet Guerrero, Federico
author_sort Guerrero, Federico
title Long-term inflation outcomes after hyperinflation: theory and evidence
title_short Long-term inflation outcomes after hyperinflation: theory and evidence
title_full Long-term inflation outcomes after hyperinflation: theory and evidence
title_fullStr Long-term inflation outcomes after hyperinflation: theory and evidence
title_full_unstemmed Long-term inflation outcomes after hyperinflation: theory and evidence
title_sort long-term inflation outcomes after hyperinflation: theory and evidence
publishDate 2005
url http://sedici.unlp.edu.ar/handle/10915/168829
work_keys_str_mv AT guerrerofederico longterminflationoutcomesafterhyperinflationtheoryandevidence
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