Monetary Overhang and Reforms in the 1940s

52 Pages Posted: 27 Jun 2007

See all articles by Rudiger Dornbusch

Rudiger Dornbusch

affiliation not provided to SSRN

Holger C. Wolf

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

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

Dornbusch, Rudiger and Wolf, Holger C., Monetary Overhang and Reforms in the 1940s (October 1990). NBER Working Paper No. w3456. Available at SSRN: https://ssrn.com/abstract=987262

Rudiger Dornbusch (Contact Author)

affiliation not provided to SSRN

No Address Available

Holger C. Wolf

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/

Register to save articles to
your library

Register

Paper statistics

Downloads
19
Abstract Views
348
PlumX Metrics