Hyperinflation and the Dynamics of the Demand for Money in China, 1945-1949
Bibliographic Data
| ID | 10171068 |
|---|---|
| Authors | Teh-Wei Hu, Teh‐wei Hu (corresponding author) |
| Year | 1971 |
| Volume | 79 |
| Issue | 1 |
| Pages | 186-195 |
| Publication date | 1971-01-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/259733 |
| OpenAlex | W1991509503 |
| Language | EN |
| Citations received | 4 |
| References cited | 2 |
This paper is to study the demand for money during the Chinese inflation of 1945-49. Based on the Chinese experience, the results confirm the hypothesis that during hyperinflation the expected rate of change in prices is the most important variable in the demand function for money. The estimated value of the coefficient of cash balances adjustment is close to one. Thus, the assumption that the desired level of real cash balances tends to equal the actual level during hyperinflation is supported
Cash · Demand curve · Demand for money · Econometrics · Economics · Endogenous money · Hyperinflation · Inflation (cosmology · Macroeconomics · Microeconomics · Monetary economics · Monetary policy · Money supply · Moneyness · Speculative demand · Time value of money · Value (mathematics · Velocity of money · Economic theories and models · Finance · Mathematics · Monetary Policy and Economic Impact
| Unique citing works | 4 |
|---|---|
| Citations per year | 0,08 |
| Citation span | 1975 - 2024 (50) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 3 |