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dynamics of the hyperinflation during 1982-85, focusing on the complex causal links among the budget deficit, the money supply …
Persistent link: https://www.econbiz.de/10012476997
We examine four successful stabilizations from high inflation -- Germany in 1923,Austria in 1922, in Poland 1924 …
Persistent link: https://www.econbiz.de/10012477267
emphasis. We draw attention to a third aspect of the hyperinflation process, and the stablization, namely exchange rate and … establishing that credibility by a de facto stablization. We make that point by discussing the events of the German hyperinflation …
Persistent link: https://www.econbiz.de/10012477405
Since 1947, hyperinflations (by Cagan's definition) in market economies have been rare. Much more common have been longer inflationary processes with inflation rates above 100 percent per annum. Based on a sample of 133 countries, and using the 100 percent threshold as the basis for a definition...
Persistent link: https://www.econbiz.de/10012469784
from major external shocks, but the extent of economic collapse in the face of these shocks (including a hyperinflation …
Persistent link: https://www.econbiz.de/10012476427
pushing a subset of European countries into hyperinflation shortly after the end of the war. Germany, Austria, Poland, and …Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially … elevated economic uncertainty directly affected inflation dynamics and the incidence of hyperinflation during the interwar …
Persistent link: https://www.econbiz.de/10012453095
Persistent link: https://www.econbiz.de/10000676626
The paper extends previous analysis of closed-economy inflation targeting to a small open economy with forward-looking aggregate supply and demand with some microfoundations, and with stylized realistic lags in the different transmission channels for monetary policy. The paper compares targeting...
Persistent link: https://www.econbiz.de/10012471032
This paper explores several issues concerning a possible zero lower bound (ZLB) including its theoretical rationale; the magnitude of effects of low sustained inflation on real interest rates; the validity of analyzing monetary policy in models with no monetary variables; and the dynamic...
Persistent link: https://www.econbiz.de/10012471090
The paper discusses the choice between inflation targeting and monetary targeting as a strategy for the Eurosystem, the actual strategy the Eurosystem announced in the fall of 1998, the framework for policy decisions appropriate for achieving the goals of the Eurosystem, the role of exchange...
Persistent link: https://www.econbiz.de/10012471610