Post date: Feb 17, 2013 2:04:26 AM
Words of the Day - Exogenous & Endogenous
"However, there is an alternative view of hyperinflations, one that I find much more credible than the quantity-theory based argument outlined above. This alternative viewpoint recognizes that money supply is endogenous (and hence that interest rates are exogenous), and that budget deficits are often caused by hyperinflations rather than being the source of hyperinflations. -- James Montier