Get the free Nber Working Paper No. 4184

This working paper explores the implications of introducing indexed or backed currency in economies experiencing hyperinflation. Through theoretical and empirical analysis, it challenges conventional wisdom regarding currency substitution and its effects on inflation rates, demonstrating that currency substitution can lead to lower inflation rates during hyperinflationary periods by reducing the marginal utility of the original currency.

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NBER Working Paper No. is a unique identifier assigned to academic research papers published by the National Bureau of Economic Research (NBER).

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Authors of research papers that intend to publish through the NBER are required to file an NBER Working Paper No.

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The information that must be reported includes the title of the paper, author names, affiliations, abstract, and relevant keywords among other details.