Money and inflation in a nonlinear model

Donald George, Les Oxley

Research output: Working paperDiscussion paper


A nonlinear model of inflation and growth, with a fixed rate of money growth, is developed and its global dynamics analysed. These are compared with the local, linearised dynamics of the model. It is shown that the global dynamics of the model plausibly predict hyperinflationary bubbles, which are not present in the linearised version. Numerical simulations of the model are presented.
Original languageEnglish
PublisherEdinburgh School of Economics Discussion Paper Series
Number of pages17
Publication statusPublished - 2007

Publication series

NameESE Discussion Papers


  • money
  • inflation
  • nonlinearity


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