An important feature of the German hyperinflation is the way in which accelerating monetization of both government and private debt by the Reichsbank fueled the inflation process. The stimulus to private credit demand arising from more rapid adjustment of money wages over this period is often...

This paper tests a model based on the conflict approach to inflation, in which inflationary pressure stems from growth of real income claims exceeding growth of real income available. The hypothesis is that such excess claims growth induces an inflationary credit expansion which may be enhanced...

Real wages during the German hyperinflation are analyzed in terms of the conflict between workers' wage demands and the pricing and employment decisions of firms. This framework incorporates the wage pressure effects of expected inflation and the "wage gap" between workers' target real wage and...