01661cas a2200253 a 4500 AALejournalIMF008484 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451846683 1018-5941 BD-DhAAL BD-DhAAL Taylor, Mark. The Demand for Money During High Inflation Episodes : Some Latin American Evidenceon the Cagan Model / Mark Taylor, Kate Phylaktis. Washington, D.C. : International Monetary Fund, 1991. 1 online resource (22 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet Phylaktis, Kate. IMF Working Papers; Working Paper ; No. 1991/048 Full text available on IMF http://elibrary.imf.org/view/journals/001/1991/048/001.1991.issue-048-en.xml IMF e-Library