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| Tekijä: | Bernholz, P. Gersbach, H. |
| Otsikko: | The present monetary theory of advanced inflation: a failure? |
| Lehti: | Journal of Institutional and Theoretical Economics
1994 : DEC, VOL. 150:4, p. 733-735 |
| Asiasana: | INFLATION MONETARY THEORY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | In his comment on the paper, Diehl argues that the standard monetary approach can explain the main stylized facts of advanced inflation. However, as it is stretched in the paper and as implicitly implied by Diehl's analysis, the standard monetary approach assuming rational expectations fails to account for several of the stylized facts observed during hyperinflations. This statement does not only imply that the authors consider the standard monetary approach as completely useless. |
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