currency substitution is an important factor in explaining real money holdings in Germany from 1970 to 1978. Additionally …, evidence is provided concerning the influence of the expected inflation rate (approximated by the actual rate) on money demand …

The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank … welfare cost of a 10% inflation rate instead of zero, for comparison to other estimates, as well as the cost of a 2% inflation … rate instead of a zero inflation rate. The zero rate is specified as the US inflation rate target in the 1978 Employment …

's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic …

's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been …We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic …

Probably no event in monetary history has been more studied than the German hyperinflation of the early 1920's … effecting the demand for money during the German hyperinflation. One of the difficulties in studying empirically the role of …

Probably no event in monetary history has been more studied than the German hyperinflation of the early 1920's … effecting the demand for money during the German hyperinflation. One of the difficulties in studying empirically the role of …

Germany and beyond. Because of its experience with hyperinflation in 1923, the German population fears rising prices and …The notion of a nation-specific inflation trauma among the German population is ubiquitous in the public debate in … understanding of the German inflation trauma is as old as its historical point of reference. The majority of the literature presumes …