Options
An empirical investigation of price and exchange rate bubbles during the interwar European hyperinflations
Author(s)
Date Issued
2003
ISSN
1873-8036
1059-0560
Citation
International Review of Economics & Finance, 2003, vol. 12(3), pp. 327-344.
Type
Peer Reviewed Journal Article
Abstract
This study attempts to test for the presence of price and exchange rate bubbles during the interwar European hyperinflations of Germany, Hungary, and Poland. We suggest a testing methodology, which extends the Durlauf–Hooker approach, for conducting this empirical study. Exact Cagan hyperinflation models under rational expectations are rejected and evidence of neither price nor exchange rate bubbles can be found for the three countries examined.
Loading...
Availability at HKSYU Library
