| Autor: |
Fernando de Holanda Barbosa, Tito Nícias Teixeira da Silva Filho |
| Jazyk: |
angličtina |
| Rok vydání: |
2015 |
| Předmět: |
|
| Zdroj: |
EconomiA, Vol 16, Iss 2, Pp 145-156 (2015) |
| Druh dokumentu: |
article |
| ISSN: |
1517-7580 |
| DOI: |
10.1016/j.econ.2015.05.001 |
| Popis: |
This paper presents a theoretical framework that allows a taxonomy of hyperinflation, namely: (i) bubble, (ii) weak and (iii) strong hyperinflation. The inflation tax revenue curve is used to characterize each type of hyperinflation and we use this curve to test them. The bubble and strong hyperinflation hypotheses are rejected using Brazilian data. The weak hyperinflation hypothesis is not rejected and the economy could have been on the ‘wrong’ side of the Laffer curve during hyperinflation. This outcome, contrary to conventional wisdom, is predicted by this hypothesis, which presents a solution to an old puzzle of the hyperinflation literature. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
|
