TY - BOOK ID - 84542297 TI - The Demand for Money During High Inflation Episodes : Some Latin American Evidenceon the Cagan Model AU - Taylor, Mark. AU - Phylaktis, Kate. PY - 1991 SN - 1462395430 1455298913 1281386987 9786613779793 1455250376 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Exports and Imports KW - Inflation KW - Macroeconomics KW - Money and Monetary Policy KW - Public Finance KW - Time-Series Models KW - Dynamic Quantile Regressions KW - Dynamic Treatment Effect Models KW - Diffusion Processes KW - Demand for Money KW - Price Level KW - Deflation KW - Debt KW - Debt Management KW - Sovereign Debt KW - International Investment KW - Long-term Capital Movements KW - Public finance & taxation KW - International economics KW - Monetary economics KW - Government debt management KW - Foreign assets KW - Demand for money KW - Price controls KW - Prices KW - Public financial management (PFM) KW - External position KW - Money KW - Debts, Public KW - Investments, Foreign KW - Government policy KW - Argentina UR - https://www.unicat.be/uniCat?func=search&query=sysid:84542297 AB - This paper examines the demand for money under conditions of very high inflation in Argentina, Bolivia, Brazil, Chile and Peru during the 1970s and 1980s. We test whether the monetary and inflationary experiences of these countries can be adequately characterized by the Cagan (1956) model, using an econometric procedure which is not reliant on any particular assumption concerning expectations formation except that forecasting errors are stationary. We also examine the importance of foreign asset substitution in domestic portfolios. ER -