Skip to main content

Functional form of the demand for real balances in Cagan's hyperinflation model

Buy Article:

$47.50 plus tax (Refund Policy)

This paper uses recent advances in the development of testable implications of the Cagan model of hyperinflation. It extends the range of candidate functional forms of the demand for real balances in hyperinflations to include nonstandard versions in which the absolute inflation elasticity is a decreasing function of inflation. These nonstandard functional forms are of interest because they are known to have desirable theoretical properties. This paper finds empirical justification for a nonstandard form that performs at least as well as the traditional semilogarithmic functional form.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Article Media
No Metrics

Document Type: Research Article

Publication date: 01 December 1998

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more