Uncertainty and Hyperinflation: European Inflation Dynamics after World War I
---- Acknowledgments ----
The views expressed here are those of the authors and not necessarily those of the Federal Reserve Bank of San Francisco, the Board of Governors of the Federal Reserve System, or the National Bureau of Economic Research. We thank Regis Barnichon, Vasco Cúrdia, Sylvain Leduc, Zheng Liu, Òscar Jordà, and conference participants at the 2018 SITE Conference on the Macroeconomics of Uncertainty and Volatility, 2017 CEPR Economic History Symposium, the Eighth World Congress of Cliometrics, the Federal Reserve Bank of Richmond, and the University of California, Riverside for helpful comments. We especially thank Regis Barnichon for sharing his smoothed local projection code with us. Tesia Chuderewicz, Neil Gerstein, William Hedberg, Erin Klein, Kevin Pearson, and Javier Quintero provided invaluable research assistance.