Estimating the Welfare Costs of Very High Inflations and Hyperinflations
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Universität Bern
Abstract
We explore the welfare costs of inflation originating from lack of liquidity
satiation for Weimar Republic’s hyperinflation and three high-inflation countries.
Towards the peak of Weimar’s hyperinflation the costs are estimated to
have been equal to nearly 20 per cent of income. For Israel, Mexico, and Argentina
the costs had been materially lower, but still in the range of 3-5 per
cent of GDP.
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Keywords
High inflation, Hyper Inflation, Inflación, Ciclos economicos, Economic cycles