ON RELATIVE PRICE VARIABILITY AND HYPERINFLATION

During the Chinese hyperinflation (1946:1-1949:4), both anticipated and unanticipated inflation were found to influence relative price variability positively. The non-neutral effect of anticipated inflation rejects the conventional Lucas island model, while lending empirical support to the price adj...

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Bibliographic Details
Main Authors: TANG, DP, WANG, P.
Format: Article in Journal/Newspaper
Language:English
Published: 1993
Subjects:
Lucas Island
Online Access:http://repository.ust.hk/ir/Record/1783.1-27205
http://lbdiscover.ust.hk/uresolver?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rfr_id=info:sid/HKUST:SPI&rft.genre=article&rft.issn=0165-1765&rft.volume=42&rft.issue=2-3&rft.date=1993&rft.spage=209&rft.epage=214&rft.aulast=TANG&rft.aufirst=DP&rft.atitle=ON+RELATIVE+PRICE+VARIABILITY+AND+HYPERINFLATION
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Description
Summary:During the Chinese hyperinflation (1946:1-1949:4), both anticipated and unanticipated inflation were found to influence relative price variability positively. The non-neutral effect of anticipated inflation rejects the conventional Lucas island model, while lending empirical support to the price adjustment-cost theory.

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