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Recurvise Stability Analysis: the Demand for Money During the German Hyperinflation

Author

Listed:
  • Dufour, J.M.

Abstract

Nous Appliquons L'analyse Recursive de la Stabilite Afin D'etudier la Stabilite Temporelle de la Demande de Monnaie Durant L'hyperinflation Allemande. Nous Resumons les Principes de Base de la Methode et Definissons les Statistiques Utilisees. Nous Etudions Deux Specifications de la Demande de Monnaie, Qui Furent Considerees Precedemment Par Frenkel (1977): une Forme Fonctionnelle Semi-Logarithmique et une Forme Logarithmique. L'inflation Anticipee Dans Ces Equations Est Mesuree Par la Prime a Terme Sur le Taux de Change. les Deux Formes Fonctionnelles Considerees Demontrent des Signes D'instabilite, Meme Apres Correction Pour L'autocorrelation des Erreurs. la Methode Utilisee Nous Suggere Aussi la Presence D'un Point de Rupture Relativement Important Entre Aout et Novembre 1922.

Suggested Citation

  • Dufour, J.M., 1984. "Recurvise Stability Analysis: the Demand for Money During the German Hyperinflation," Cahiers de recherche 8429, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8429
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