Skip to main content

Money demand during hyperinflation and stabilization: Bulgaria, 1991-2000

Buy Article:

$47.50 plus tax (Refund Policy)

The demand for money in Bulgaria is estimated over a ten-year period (1991-2000) of high inflation and inflation uncertainty. The paper distinguishes between three well-defined sub-periods: high, variable, but not systematically accelerating inflation from 1991 until April 1996; the near-hyperinflation period from May 1996 to February 1997; and the subsequent stabilization after the adoption of a currency board. The empirical analysis utilizes a standard methodology of cointegration and error correction. The functional determinants of the demand for money change during the different sub-periods. During the hyperinflation episode, Cagan's model is employed.
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

Affiliations: The World Bank and London School of Economics. The World Bank, 1818 H Street, NW, Washington DC, 20433, USA, Email: [email protected]

Publication date: 2003-07-20

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