This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

Journal of Economic Literature: Vol. 40 No. 3 (September 2002)

JEL Volume. 40, Issue 3 | leftPrevious ArticleNext Articleright

Expand

Quick Tools:

Print Article Summary Email Link to this Article Export Citation
Sign up for Email Alerts Follow us on Twitter Subscription Information
(Institutional Administrator Access)

Explore:

JEL - All Issues

JEL Forthcoming Articles JEL Indexes (Members Only)

Modern Hyper- and High Inflations

Article Citation

Fischer, Stanley, Ratna Sahay, and Carlos A. Végh. 2002. "Modern Hyper- and High Inflations." The Journal of Economic Literature, 40(3): 837-880.

DOI: 10.1257/002205102760273805

Abstract

Since 1947, hyperinflations in market economies have been rare. More common have been longer inflationary processes at rates above 100 percent per annum. This paper examines the main characteristics of such very high inflation episodes. We find that (i) almost 20 percent of countries have experienced such episodes; (ii) higher inflation is more unstable; (iii) in high-inflation countries, the relationship between the fiscal balance and seigniorage is strong; (iv) inflation inertia decreases as average inflation rises; (v) high inflation is associated with poor macroeconomic performance; and (vi) stabilizations that rely on the exchange rate as the nominal anchor are expansionary.

Article Full-Text Access

Full-text Article

Authors

Fischer, Stanley (Citigroup)
Sahay, Ratna (IMF)
Végh, Carlos A. (UCLA)


Journal of Economic Literature



AEA Member Login:


Quick Tools:

Email Link to this Issue

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEL - Forthcoming Articles

JEL Indexes (Members Only)

AEA Journals

Virtual Field Journals

AEAweb | AEA Journals | Contact Us