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Journal Article
Money demand and inflation in Peru, 1979-1991
The author, a junior at Bowling Green State University in Ohio, won the Federal Reserve Bank of Cleveland?s first annual undergraduate economics essay competition in 2000. His essay, now reprinted as an Economic Commentary, explores the factors that affected money demand during a period of terrible hyperinflation in Peru and considers whether the government caused the hyperinflation by printing too much money in order to increase seigniorage revenue. Hyperinflation may seem to be a problem most countries have learned to avoid, but the leaders of many emerging economies face tough financial ...