The Debt-Inflation Channel of the German Hyperinflation
收藏NBER2023-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w31298
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资源简介：
This paper studies how a large increase in the price level is transmitted to the real economy through firm balance sheets. Using newly digitized macro- and micro-level data from the German inflation of 1919-1923, we show that inflation led to a large reduction in real debt burdens and bankruptcies.
提供机构：
美国国家经济研究局
创建时间：
2023-06-01
