Monetary Overhang and Reforms in the 1940s

52 Pages Posted: 17 Oct 2007 Last revised: 14 May 2008

See all articles by Holger C. Wolf

Holger C. Wolf

Georgetown University - Edmund A. Walsh School of Foreign Service (SFS)

Rudiger Dornbusch

Massachusetts Institute of Technology (MIT) (Deceased)

Multiple version iconThere are 2 versions of this paper

Date Written: October 1990

Abstract

Post-1945 Europe had many of the traits observed today in Eastern Europe and the Soviet Union: price controls, shortages, black markets and a monetary overhang. The policy response in most countries was monetary reform - - the deliberate immobilization of liquid assets and in many instances an outright write-off of deposits. The paper reviews the historical experience, notably the German reform of 1948, identifies the policy issues involved and draws lessons for today.

Suggested Citation

Wolf, Holger C. and Dornbusch, Rudiger W., Monetary Overhang and Reforms in the 1940s (October 1990). NBER Working Paper No. w3456. Available at SSRN: https://ssrn.com/abstract=471485

Holger C. Wolf (Contact Author)

Georgetown University - Edmund A. Walsh School of Foreign Service (SFS) ( email )

Washington, DC 20057
United States
202-687-8079 (Phone)
202-687-8359 (Fax)

HOME PAGE: http://georgetown.edu/faculty/wolfhc/

Rudiger W. Dornbusch

Massachusetts Institute of Technology (MIT) (Deceased)

N/A

Register to save articles to
your library

Register

Paper statistics

Downloads
27
Abstract Views
498
PlumX Metrics