Re: Printing Money

[FAC_BROSSER@xxxxxxxxxxxxxxxx id <01HNHED3DCAO8YJ4B2@xxxxxxxxxxxxxxxx>; Sat, 25 Feb 1995 22:46:21 -0500 (EST)]

To Lynn Turgeon:
     "I am not now, nor have I ever been a monetarist."
My note simply noted the nature of money supply creation
in Russia, which you did not differ with.  This is not
the same as saying that is why they have had inflation.
     I do however think some hyperinflations have been
tied to hypermoney creation, although the question still
may be that that reflects more fundamental forces.  In
general in LDC's or economies without "sophisticated"
financial sectors, it takes the classic form of literally
printing money.  Thus at the height of the 1985 Bolivian
hyperinflation, paper money was the nation's third largest
import, their money being printed in Germany (how appropriate).
Barkley Rosser
James Madison University