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2011•International Business & Economics Research Journal (IBER)Requires access

Hyperinflation: A Theory On The Ignorance Concerning Money And Interest

José Villacís González

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Abstract

In cases of hyperinflation the exchange rate varies at a rate close to the rate of inflation and the savings present in the financial system lose their capacity to be invested. One could say that there is a demand for the stongest foreign currency for transactional and speculative purposes that is equal to the traditional demand for money. At the same time, savings lose their purchasing power due to the speed and fluctuations in the rate of increase of prices.

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What this paper is about

In cases of hyperinflation the exchange rate varies at a rate close to the rate of inflation and the savings present in the financial system lose their capacity to be invested. One could say that there is a demand for the stongest foreign currency for transactional and speculative purposes that is equal to the traditional demand for money. At the same time, savings lose their purchasing power due to the speed and fluctuations in the rate of increase of prices.

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Available abstract

In cases of hyperinflation the exchange rate varies at a rate close to the rate of inflation and the savings present in the financial system lose their capacity to be invested. One could say that there is a demand for the stongest foreign currency for transactional and speculative purposes that is equal to the traditional demand for money. At the same time, savings lose their purchasing power due to the speed and fluctuations in the rate of increase of prices.

Key concepts: Hyperinflation, Monetary economics, Economics, Demand for money, Speculative demand, Inflation (cosmology), Currency, Velocity of money

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