Germany’s hyperinflation resulted from a confluence of several factors, all of which contributed to a temporary breakdown in state capacity and to unsustainable public sector deficits. Wartime debt deflated by 90% already in 1920. Informal wage indexation and failure to enforce collection of a...

Das ifo Institut wird 75 Jahre. Im ifo Schnelldienst begleiten wir das Jubiläumsjahr. Während der ifo Jahresversammlung am 27. Juni 2024 gab Albrecht Ritschl, Professor an der London School of Economics, Economic History Department, in seiner Festansprache einen Rückblick auf 75 Jahre ifo...

Germany's hyperinflation resulted from a confluence of several factors, all of which contributed to a temporary breakdown in state capacity and to unsustainable public sector deficits. Wartime debt deflated by 90% already in 1920. Informal wage indexation and failure to enforce collection of a...