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VARIABILITY OF THE INFLATION RATE AND THE FORWARD PREMIUM IN A MONEY DEMAND FUNCTION: THE CASE OF THE GERMAN HYPERINFLATION

โœ Scribed by STUART D. ALLEN; DONALD L. McCRICKARD


Book ID
115202422
Publisher
Oxford University Press
Year
1982
Tongue
English
Weight
843 KB
Volume
20
Category
Article
ISSN
0095-2583

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This paper examines the relationship between the black market premium and the rate of inflation under a dual exchange rate regime consisting of an official market and a black market. By explicitly specifying the implicit export tax associated with the government budget constraint in a dynamic optimi