journal contributionposted on 1971-08-01, 00:00 authored by Allan MeltzerAllan Meltzer
During the early months of 1990, inflation rates as reported by the International Monetary Fund, ranged from negative numbers to an annual rate of more than 1400 percent. Countries like Poland, Argentina, Yugoslavia and Brazil where the reported annual rate of inflation was above 1000 percent all had experienced high money growth, more than 2000% in Yugoslavia and more than 4000% in Argentina in 1989. A few countries like Togo and Ethiopia reported falling prices. They had experienced negative rates of money growth in the recent past.