TY  - JOUR
AU  - Garber,Peter M.
TI  - Transition from Inflation to Price Stability
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 728
PY  - 1981
Y2  - August 1981
UR  - http://www.nber.org/papers/w0728
L1  - http://www.nber.org/papers/w0728.pdf
N1  - Author contact info:
Peter M. Garber
Deutsche Bank
60 Wall Street
New York, NY 10005
Tel: 212/250-5466
Fax: 212/250-2628
E-Mail: peter.garber@db.com
AB  - This paper provides a detailed discussion of the real phenomena that materialized in the stabilization period which followed the German hyper-inflation. Significant real dislocations arose after the monetary reform; and these can be attributed to a government policy which subsidized heavy industry through the inflation tax proceeds. The "credibility problem" appears not to have been a significant factor in the post-reform dislocation.
ER  -