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 …