Modeling Hyperinflation Phenomenon: A Bayesian Approach

No 8, Documentos de Investigación - Research Papers from CEMLA

Abstract: Hyperinflations are short-lived episodes of economic instability in prices which characteristically last twenty months or less. Classical statistical techniques applied to these small samples could lead to an incorrect inference problem. This paper describes a Bayesian approach for modeling hyper-inflations which improves the modeling accuracy using small-sample inference based on specific parametric assumptions. A theory-congruent model for the Bolivian hyperinflation was estimated as a case study.

Keywords: Hyperinflation; Bayesian methods (search for similar items in EconPapers)
JEL-codes: C11 E31 (search for similar items in EconPapers)
Pages: 28
Date: 2013-04
New Economics Papers: this item is included in nep-cba, nep-ecm and nep-mac
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