@techreport{NBERw3456,
 title = "Monetary Overhang and Reforms in the 1940s",
 author = "Rudiger Dornbusch and Holger Wolf",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "3456",
 year = "1990",
 month = "October",
 URL = "http://www.nber.org/papers/w3456",
 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.},
}