Scarring through the German hyperinflation

Gregori Galofre-Vila
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Gregori Galofre-Vila: Universitat de Valencia

No 2302, Documentos de Trabajo EH-Valencia (DT-EHV) from Economic History group at the Universitat de Valencia

Abstract: I study the link between the 1923 German hyperinflation and health by linking monthly data on the cost-of-living index with monthly infant and cause-specific adult mortality rates in 280 cities. By exploring panel data with a range of fixed effects, I find that hyperinflation boosted mortality rates. The largest increases in mortality came from rises in amenable mortality, which are cause-specific deaths plausibly linked to deteriorating social conditions over the short-term, such as deaths from influenza, meningitis, scarlet fever, tuberculosis, and whooping cough. I also rely on children's heights and weights to show that worsening health was related to impaired nutrition. The results are robust to a range of specifications, placebo tests, and Conley standard errors.

Keywords: Hyperinflation; monetary policy; mortality; anthropometry; weimar (search for similar items in EconPapers)
JEL-codes: D7 D72 N14 N34 N44 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2023-08
New Economics Papers: this item is included in nep-hea and nep-his
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