Monetary Explanations of the Weimar Republic's Hyperinflation: Some Neglected Contributions in Contemporary German Literature

David Laidler and George W Stadler

Journal of Money, Credit and Banking, 1998, vol. 30, issue 4, 816-31

Abstract: Contemporary analyses of the Weimar Hyperinflation by L. Albert Hahn, Ladislaus von Bortkiewicz, and Ludwig von Mises have been inadequately appreciated by earlier commentators. They used the quantity theory, supplemented by analysis of inflation expectations, to explain hyperinflation's stylized facts. The latter two treated expectations as forward looking, related to the fiscal situation, in the spirit of Sargent's later analysis. They also argued that the effects of expectations on price-setting behavior could create a shortfall of money currently in circulation from the demand for it, thus sketching a disequilibrium analysis of hyperinflation that has no exact parallel in modern treatments of the topic.

Date: 1998
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Working Paper: Monetary Explanations of the Weimar Republic's Hyperinflation: Some Neglected Contributions in Contemporary German Literature (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:30:y:1998:i:4:p:816-31

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