Competitive equilibrium hyperinflation under rational expectations

dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorSallum, Elvia Mureb
dc.creatorBarbosa, Fernando de Holanda
dc.creatorCunha, Alexandre Barros da
dc.date.accessioned2008-05-13T15:25:56Z
dc.date.accessioned2019-05-22T14:14:05Z
dc.date.available2008-05-13T15:25:56Z
dc.date.available2019-05-22T14:14:05Z
dc.date.created2008-05-13T15:25:56Z
dc.date.issued2005-01-01
dc.identifier0104-8910
dc.identifierhttp://hdl.handle.net/10438/528
dc.identifier.urihttp://repositorioslatinoamericanos.uchile.cl/handle/2250/2691690
dc.description.abstractThis paper shows that a competitive equilibrium model, where a representative agent maximizes welfare, expectations are rational and markets are in equilibrium can account for several hyperinflation stylized facts. The theory is built by combining two hypotheses, namely, a fiscal crisis that requires printing money to finance an increasing public deficit and a predicted change in an unsustainable fiscal regime.
dc.languageeng
dc.publisherEscola de Pós-Graduação em Economia
dc.relationEnsaios Econômicos;578
dc.subjectHyperinflation
dc.subjectRational expectations
dc.subjectCompetitive equilibrium
dc.subjectFiscal crisis
dc.titleCompetitive equilibrium hyperinflation under rational expectations
dc.typeDocumentos de trabajo


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