The monetary dynamics of hyperinflation

The Keynesian demand for money function

Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression

This paper examines the effects of the financial crisis of the 1930s onthe path of aggregate output during that period. Our approach is complementary to that of Friedman and Sch...

Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression

This paper examines the effects of the financial crisis of the 1930s on the path of aggregate output during that period.Our approach is complementary to that of Friedman and Sch...

Understanding Economic Policy Reform

One of the eventual consequences of the global debt crisis that erupted in 1982 was a wave of market-oriented economic reforms, the likes of which have never been seen. The refo...

Monetary Policy Lessons of Recent Inflation and Disinflation

I will consider the monetary policy lessons of the recent inflation and disinflation. The next section of this paper is devoted to the decline of M1 velocity after 1981 and the ...