rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Exploring the Mechanics of Chronic Inflation and Hyperinflation
  name:
    name part: Barbosa, Fernando de Holanda.
    role:
      role term: creator
    role:
      role term: author.
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  origin info:
    place:
      place term: gw
    date issued: 2017
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: electronic
    form: electronic resource
    reformatting quality: access
    form: remote
    extent: X, 116 p. 37 illus. online resource.
  abstract: 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 pathologies of public debt and external debt crises. The hyperinflation model allows a taxonomy of hyperinflations, namely bubble, weak and strong, that can be tested with the inflation tax revenue curve. .
  table of contents: Preface -- I – Hyperinflation Theories: an Abridged Survey -- II – The Origins and Consequences of Inflation in Latin America -- III – Chronic Inflation and Hyperinflation -- IV – Inflation Tax and Money Essentiality -- V – Hyperinflation: Inflation Tax and Economic Policy Regime -- VI – Competitive Equilibrium Hyperinflation under Rational Expectations -- VII – Hyperinflation Pitfalls: Fundamentals versus Bubbles -- VIII – Bubble, Weak and Strong Hyperinflation: Theory and Empirical Evidence -- References.
  note: by Fernando de Holanda Barbosa.
  subject:
    topic: Tax accounting
  subject:
    topic: Tax laws
  subject:
    topic: Finance, Public
  subject:
    topic: Macroeconomics
  subject:
    topic: Economics
  subject:
    topic: Macroeconomics/Monetary Economics//Financial Economics
  subject:
    topic: Public Finance
  subject:
    topic: Business Taxation/Tax Law
  classification: HB172.5
  classification: 339
  related item:
    title info:
      title: Springer eBooks
  related item:
    title info:
      title: SpringerBriefs in Economics
  identifier: 9783319445120
  identifier: http://dx.doi.org/10.1007/978-3-319-44512-0
  record info:
    record creation date: 161017
    record change date: 20161017122704.0
    record identifier: 978-3-319-44512-0