The End Of The Hungarian Hyperinflation Of 1945-1946
AbstractThe rational expectations approach to macroeconomics suggests that hyperinflations were ended abruptly without significant output or unemployment costs. Using new evidence, the author finds that, while transition costs did take place following the Hungarian hyperinflation of 1945-46, they were not linked to the credibility of the regime change. Although the evidence presented actually reinforces the rational expectations interpretation of the end of hyperinflations, the paper also stresses the importance of distinguishing between an economy experiencing high inflation and one emerging from a milder inflation. Copyright 1989 by Ohio State University Press.
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Bibliographic InfoPaper provided by Wilfrid Laurier University, Department of Economics in its series Working Papers with number 88125.
Length: 27 pages
Date of creation: 1988
Date of revision:
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inflation ; expectations ; unemployment ; macroeconomics;
Other versions of this item:
- Siklos, Pierre L, 1989. "The End of the Hungarian Hyperinflation of 1945-1946," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(2), pages 135-47, May.
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