IDEAS home Printed from https://ideas.repec.org/h/spr/frochp/978-3-031-70347-8_5.html
   My bibliography  Save this book chapter

The End of Inflation

In: An Economic Historiography of Germany, 1918-1931

Author

Listed:
  • Giovanni B. Pittaluga

    (University of Genoa)

  • Elena Seghezza

    (University of Genoa)

Abstract

In this chapter, Pittaluga and Seghezza initially analyze the reasons for the delay in adopting the reforms necessary to end hyperinflation. In the authors’ view, this delay was mainly due to the fact that certain interest groups, primarily industrialists, benefited from the distributional effects of inflation. The acceptance of anti-inflationary measures by these groups was possible only when the costs of hyperinflation became excessively high for them as well. Unlike other economists, who trace the end of hyperinflation to the change in expectations resulting from the introduction of the Rentenmark, Pittaluga, and Seghezza attribute crucial importance to exchange rate stabilization. From this perspective, the end of German hyperinflation was the result of exchange rate-based disinflation and the costs of disinflation emerged not immediately, but over time.

Suggested Citation

  • Giovanni B. Pittaluga & Elena Seghezza, 2024. "The End of Inflation," Frontiers in Economic History, in: An Economic Historiography of Germany, 1918-1931, chapter 0, pages 117-161, Springer.
    • Handle: RePEc:spr:frochp:978-3-031-70347-8_5
    DOI: 10.1007/978-3-031-70347-8_5
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:frochp:978-3-031-70347-8_5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.