o:28485 Hyperinflation and stabilization in FR Yugoslavia 1992-1994 en Abstract: This paper contributes to the literature on hyperinflation and stabilizations by analyzing the great Yugoslav hyperinflation and stabilization during the period 1992 to 1994. The paper makes three contributions. First, it provides updated and more accurate estimates of key economic variables on economic activity, public finances, and seigniorage revenues during hyperinflation based on most recent and updated data. Second, it identifies and analyzes salient features, causes, transmission mechanisms, and monetary consequences of the extreme Yugoslav hyperinflation in the period 1992-1994. It discusses what we call the fundamental equations of the Yugoslav hyperinflation and their implications for inflation expectations and subsequent stabilization. And third, it analyzes the implementation, achievements, and challenges of the currency reform and stabilization program that ended hyperinflation, highlighting the roles of the currency board, currency reform, and of the architect of the program, Dragoslav Avramović, the then governor of the Central Bank of FR Yugoslavia. Keywords: Yugoslav hyperinflation; Stylized facts; Causes and dynamics; Currency reform; Stabilization program 1552099 10.2298/PAN2202173B 1552101 1452-595X 2023-03-30T13:12:15.497Z 44 no 46 Željko Bogetić Univerzitet u Beogradu Ekonomski fakultet Diana Dragutinović Univerzitet u Beogradu Ekonomski fakultet person 2305383 0000-0003-3828-3889 Pavle Petrović Univerzitet u Beogradu Ekonomski fakultet person 12244327 application/pdf 602543 https://phaidrabg.bg.ac.rs/o:28485 no yes 16 70 92000001 11A03 Panoeconomicus 69 2 173 204 2022