Comment on Frenkel and Taylor's "Money Demand and Inflation in Yugoslavia, 1980-1989." (response to Jacob A. Frenkel and Mark P. Taylor, Journal of Macroeconomics, vol. 15, p. 455, 1993)

Article Abstract:

A modified Cagan model based on the theory that real money and inflation are cointegrated is analyzed. The model shows the large dispersion of money demand semielasticity when applied to high inflation episodes. However, it is argued that the model cannot explain these high inflation episodes based using from Yugoslavia. It is also shown that real money and inflation are not cointegrated when the structural break of inflation is taken into account.

Models, Money demand

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The Yugoslav hyperinflation of 1992-1994: causes, dynamics, and money supply process

Article Abstract:

Research was conducted to illustrate how excessive money supply brought hyperinflation in Yugoslavia, which is the second highest in the history of economy, through depreciation of exchange rate. The process in money supply was evaluated to find out if it was an endogenous process. Also, the role played by exchange-rate-based pricing was examined having in mind suggestions that the money market sets prices.

Economics, Research and Development in the Social Sciences and Humanities, Prices, Money supply

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Quasi-fiscal deficit and money demand in Yugoslavia's high inflation: Some econometric evidence

Article Abstract:

Research is presented describing the study of hyperinflation in the Balkan country of Yugoslavia during the 1980s and the possible negative affects placed on the monetary system by support from the Central Bank.

Comparative economics

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