Money and prices in models of bounded rationality in high inflation economies
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- dc.contributor.author Marcet, Albertca
- dc.contributor.author Nicolini, Juan Pabloca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:50:19Z
- dc.date.available 2017-07-26T10:50:19Z
- dc.date.issued 2005-01-01
- dc.date.modified 2017-07-23T02:09:41Z
- dc.description.abstract This paper studies the short run correlation of inflation and money growth. We study whether a model of learning can do better than a model of rational expectations, we focus our study on countries of high inflation. We take the money process as an exogenous variable, estimated from the data through a switching regime process. We find that the rational expectations model and the model of learning both offer very good explanations for the joint behavior of money and prices.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=875
- dc.identifier.citation Review of Economic Dynamics 8 (2005) 452 - 479
- dc.identifier.uri http://hdl.handle.net/10230/859
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 875
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword inflation and money growth
- dc.subject.keyword switching regimes
- dc.subject.keyword quasi-rationality
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Money and prices in models of bounded rationality in high inflation economiesca
- dc.type info:eu-repo/semantics/workingPaper