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<p>German hyperinflation is often associated with the so-called “classical hyperinflations” in which a main cause can be identified as the predominant factor. However, some historical elements suggest the importance of multiple causes as occurred in Latin America hyperinflation. The limited availability of data on German inflation could pose a significant challenge in interpreting these historical events. I have built a database based on weekly data between January, 15 1921 and December, 29 1923 for inflation (based weighted mean for 68 cities), money base, nominal exchange rate, and wages. By employing specific common assumptions of inertial inflation theory and univariate and multivariate analyses through wavelet tools and causality methods (cross mapping and transfer entropy), I argue that Weimar inflation exhibited an overall persistence and that inflation, when viewed from a multichannel perspective, resulted from different causes acting on various time scales.</p>

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In Der Welle Des Preises Mitschwimmen: A Multichannel View of the Weimar Hyperinflation

  • 期刊论文

  • 发表日期：

    2025年1月21日

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  • Andrea Sbarile

摘要

German hyperinflation is often associated with the so-called “classical hyperinflations” in which a main cause can be identified as the predominant factor. However, some historical elements suggest the importance of multiple causes as occurred in Latin America hyperinflation. The limited availability of data on German inflation could pose a significant challenge in interpreting these historical events. I have built a database based on weekly data between January, 15 1921 and December, 29 1923 for inflation (based weighted mean for 68 cities), money base, nominal exchange rate, and wages. By employing specific common assumptions of inertial inflation theory and univariate and multivariate analyses through wavelet tools and causality methods (cross mapping and transfer entropy), I argue that Weimar inflation exhibited an overall persistence and that inflation, when viewed from a multichannel perspective, resulted from different causes acting on various time scales.