Recovering Historical Inflation Data from Postage Stamps Prices
AbstractFor many developing countries, historical inflation figures are rarely available. We propose a simple method that aims to recover such figures of inflation using prices of postage stamps issued in earlier years. We illustrate our method for Suriname, where annual inflation rates are available for 1961 until 2015, and where fluctuations in inflation rates are prominent. We estimate the inflation rates for the sample 1873 to 1960. Our main finding is that high inflation periods usually last no longer than 2 or 3 years. An Exponential Generalized Autoregressive Conditional Heteroscedasticity (EGARCH) model for the recent sample and for the full sample with the recovered inflation rates shows the relevance of adding the recovered data. View Full-Text
Scifeed alert for new publicationsNever miss any articles matching your research from any publisher
- Get alerts for new papers matching your research
- Find out the new papers from selected authors
- Updated daily for 49'000+ journals and 6000+ publishers
- Define your Scifeed now
Franses, P.H.; Janssens, E. Recovering Historical Inflation Data from Postage Stamps Prices. J. Risk Financial Manag. 2017, 10, 21.
Franses PH, Janssens E. Recovering Historical Inflation Data from Postage Stamps Prices. Journal of Risk and Financial Management. 2017; 10(4):21.Chicago/Turabian Style
Franses, Philip H.; Janssens, Eva. 2017. "Recovering Historical Inflation Data from Postage Stamps Prices." J. Risk Financial Manag. 10, no. 4: 21.
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.