{"id":"https://openalex.org/W3041354367","doi":"https://doi.org/10.1017/s0968565020000062","title":"Was a sudden stop at the origin of German hyperinflation?","display_name":"Was a sudden stop at the origin of German hyperinflation?","publication_year":2020,"publication_date":"2020-07-09","ids":{"openalex":"https://openalex.org/W3041354367","doi":"https://doi.org/10.1017/s0968565020000062","mag":"3041354367"},"language":"en","primary_location":{"id":"doi:10.1017/s0968565020000062","doi":"https://doi.org/10.1017/s0968565020000062","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s0968565020000062","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/2A745D4120859E1ACF28A64CED23E7BD/S0968565020000062a.pdf/div-class-title-was-a-sudden-stop-at-the-origin-of-german-hyperinflation-div.pdf","source":{"id":"https://openalex.org/S100930738","display_name":"Financial History Review","issn_l":"0968-5650","issn":["0968-5650","1474-0052"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial History Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/2A745D4120859E1ACF28A64CED23E7BD/S0968565020000062a.pdf/div-class-title-was-a-sudden-stop-at-the-origin-of-german-hyperinflation-div.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009668620","display_name":"Elena Seghezza","orcid":"https://orcid.org/0000-0002-9977-1993","observed_orcids":["https://orcid.org/0000-0002-9977-1993"]},"institutions":[{"id":"https://openalex.org/I83816512","display_name":"University of Genoa","ror":"https://ror.org/0107c5v14","country_code":"IT","type":"education","lineage":["https://openalex.org/I83816512"]}],"countries":["IT"],"is_corresponding":true,"raw_author_name":"Elena Seghezza","raw_affiliation_strings":["University of Genoa"],"raw_orcid":"https://orcid.org/0000-0002-9977-1993","affiliations":[{"raw_affiliation_string":"University of Genoa","institution_ids":["https://openalex.org/I83816512"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5036319515","display_name":"Pierluigi Morelli","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Pierluigi Morelli","raw_affiliation_strings":["Associazione Bancaria Italiana"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Associazione Bancaria Italiana","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5009668620","https://openalex.org/A5036319515"],"corresponding_institution_ids":["https://openalex.org/I83816512"],"apc_list":{"value":3160,"currency":"USD","value_usd":3160},"apc_paid":{"value":3160,"currency":"USD","value_usd":3160},"fwci":0.7464,"has_fulltext":true,"cited_by_count":8,"citation_normalized_percentile":{"value":0.77845395,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"27","issue":"2","first_page":"161","last_page":"186"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9580000042915344,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9580000042915344,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10605","display_name":"Historical Economic and Social Studies","score":0.024299999698996544,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13389","display_name":"German Economic Analysis & Policies","score":0.009800000116229057,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/german-hyperinflation","display_name":"German hyperinflation","score":0.9490000009536743},{"id":"https://openalex.org/keywords/sudden-stops","display_name":"sudden stops","score":0.7730000019073486},{"id":"https://openalex.org/keywords/capital-flight","display_name":"capital flight","score":0.6600000262260437},{"id":"https://openalex.org/keywords/cagan-model","display_name":"Cagan model","score":0.5350000262260437},{"id":"https://openalex.org/keywords/wage-price-spiral","display_name":"wage-price spiral","score":0.8090000152587891},{"id":"https://openalex.org/keywords/inflation-expectations","display_name":"inflation expectations","score":0.5149999856948853},{"id":"https://openalex.org/keywords/monetary-policy","display_name":"monetary policy","score":0.515999972820282},{"id":"https://openalex.org/keywords/weimar-republic","display_name":"Weimar Republic","score":0.6759999990463257},{"id":"https://openalex.org/keywords/capital-flows","display_name":"capital flows","score":0.4009999930858612}],"concepts":[{"id":"https://openalex.org/C91102366","wikidata":"https://www.wikidata.org/wiki/Q185565","display_name":"Hyperinflation","level":3,"score":0.8972629308700562},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7517423629760742},{"id":"https://openalex.org/C154775046","wikidata":"https://www.wikidata.org/wiki/Q188","display_name":"German","level":2,"score":0.7138578295707703},{"id":"https://openalex.org/C200941418","wikidata":"https://www.wikidata.org/wiki/Q273508","display_name":"Inflation (cosmology)","level":2,"score":0.6917082667350769},{"id":"https://openalex.org/C95383336","wikidata":"https://www.wikidata.org/wiki/Q4198710","display_name":"Depreciation (economics)","level":5,"score":0.6826596856117249},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.6346925497055054},{"id":"https://openalex.org/C2777388388","wikidata":"https://www.wikidata.org/wiki/Q6821213","display_name":"Wage","level":2,"score":0.5425269603729248},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.45423170924186707},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.4475272595882416},{"id":"https://openalex.org/C6303427","wikidata":"https://www.wikidata.org/wiki/Q47398","display_name":"Economic history","level":1,"score":0.4143759608268738},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.28238362073898315},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.21550080180168152},{"id":"https://openalex.org/C58202505","wikidata":"https://www.wikidata.org/wiki/Q5035700","display_name":"Capital formation","level":4,"score":0.07704764604568481},{"id":"https://openalex.org/C44750222","wikidata":"https://www.wikidata.org/wiki/Q1897397","display_name":"Financial capital","level":3,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C33332235","wikidata":"https://www.wikidata.org/wiki/Q18362","display_name":"Theoretical physics","level":1,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1017/s0968565020000062","doi":"https://doi.org/10.1017/s0968565020000062","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s0968565020000062","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/2A745D4120859E1ACF28A64CED23E7BD/S0968565020000062a.pdf/div-class-title-was-a-sudden-stop-at-the-origin-of-german-hyperinflation-div.pdf","source":{"id":"https://openalex.org/S100930738","display_name":"Financial History Review","issn_l":"0968-5650","issn":["0968-5650","1474-0052"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial History Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:cup:fihrev:v:27:y:2020:i:2:p:161-186_2","doi":null,"is_oa":false,"landing_page_url":"https://www.cambridge.org/core/product/identifier/S0968565020000062/type/journal_article","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:iris.unige.it:11567/1018072","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/11567/1018072","pdf_url":null,"source":{"id":"https://openalex.org/S4377196291","display_name":"CINECA IRIS Institutial Research Information System (University of Genoa)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I83816512","host_organization_name":"University of Genoa","host_organization_lineage":["https://openalex.org/I83816512"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:unige.iris.cineca.it:11567/1282257","doi":null,"is_oa":false,"landing_page_url":"https://hdl.handle.net/11567/1282257","pdf_url":null,"source":{"id":"https://openalex.org/S4377196291","display_name":"CINECA IRIS Institutial Research Information System (University of Genoa)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I83816512","host_organization_name":"University of Genoa","host_organization_lineage":["https://openalex.org/I83816512"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":{"id":"doi:10.1017/s0968565020000062","doi":"https://doi.org/10.1017/s0968565020000062","is_oa":true,"landing_page_url":"https://doi.org/10.1017/s0968565020000062","pdf_url":"https://www.cambridge.org/core/services/aop-cambridge-core/content/view/2A745D4120859E1ACF28A64CED23E7BD/S0968565020000062a.pdf/div-class-title-was-a-sudden-stop-at-the-origin-of-german-hyperinflation-div.pdf","source":{"id":"https://openalex.org/S100930738","display_name":"Financial History Review","issn_l":"0968-5650","issn":["0968-5650","1474-0052"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311721","host_organization_name":"Cambridge University Press","host_organization_lineage":["https://openalex.org/P4310311721","https://openalex.org/P4310311702"],"host_organization_lineage_names":["Cambridge University Press","University of Cambridge"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial History Review","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3041354367.pdf","grobid_xml":"https://content.openalex.org/works/W3041354367.grobid-xml"},"referenced_works_count":64,"referenced_works":["https://openalex.org/W601172038","https://openalex.org/W609825975","https://openalex.org/W620262341","https://openalex.org/W623982829","https://openalex.org/W1504125239","https://openalex.org/W1528899155","https://openalex.org/W1532617639","https://openalex.org/W1535713327","https://openalex.org/W1553800825","https://openalex.org/W1587006247","https://openalex.org/W1974119534","https://openalex.org/W1975047603","https://openalex.org/W1981244785","https://openalex.org/W1985600518","https://openalex.org/W1993063561","https://openalex.org/W2016470946","https://openalex.org/W2020216236","https://openalex.org/W2023363243","https://openalex.org/W2026754471","https://openalex.org/W2050815921","https://openalex.org/W2054030568","https://openalex.org/W2064380173","https://openalex.org/W2067019589","https://openalex.org/W2068897567","https://openalex.org/W2071448736","https://openalex.org/W2091807452","https://openalex.org/W2095480038","https://openalex.org/W2103388641","https://openalex.org/W2104046843","https://openalex.org/W2120457443","https://openalex.org/W2134436582","https://openalex.org/W2135860498","https://openalex.org/W2140286179","https://openalex.org/W2149669882","https://openalex.org/W2178583389","https://openalex.org/W2232268999","https://openalex.org/W2233323328","https://openalex.org/W2276836194","https://openalex.org/W2314829008","https://openalex.org/W2321893787","https://openalex.org/W2331960496","https://openalex.org/W2481880197","https://openalex.org/W2482739871","https://openalex.org/W2489577377","https://openalex.org/W2587181063","https://openalex.org/W2804658397","https://openalex.org/W2889887937","https://openalex.org/W3025456383","https://openalex.org/W3121624261","https://openalex.org/W3123309017","https://openalex.org/W3123434431","https://openalex.org/W3123720507","https://openalex.org/W3123857060","https://openalex.org/W3124330627","https://openalex.org/W3124901313","https://openalex.org/W3125251939","https://openalex.org/W3146668795","https://openalex.org/W3212843175","https://openalex.org/W4251682645","https://openalex.org/W4256139470","https://openalex.org/W4301454126","https://openalex.org/W6673228044","https://openalex.org/W6689806850","https://openalex.org/W7047341450"],"related_works":["https://openalex.org/W4405178973","https://openalex.org/W4232575132","https://openalex.org/W3134691852","https://openalex.org/W4391724712","https://openalex.org/W7021075858","https://openalex.org/W42623900","https://openalex.org/W1504125239","https://openalex.org/W1581287097","https://openalex.org/W2503258191","https://openalex.org/W7016463464"],"abstract_inverted_index":{"Since":[0],"the":[1,31,39,55,65,86,94],"publication":[2],"of":[3,30,41,57,75,93],"Cagan's":[4],"seminal":[5],"contribution":[6],"in":[7,28,54,81,85,99,104,127],"1956":[8],"and":[9,101,116],"its":[10],"further":[11],"development":[12],"by":[13,123],"Sargent":[14],"(1982)":[15],"there":[16],"has":[17],"been":[18],"a":[19,49,60,90,96,102,114],"growing":[20],"literature":[21],"that":[22,38,52,64,78,112],"seeks":[23],"to":[24,48,71,89,129],"explain":[25],"German":[26,66],"hyperinflation":[27,43],"terms":[29],"monetary":[32,124],"hypothesis.":[33],"However,":[34],"this":[35,42],"article":[36],"shows":[37],"origins":[40],"can":[44],"be":[45],"traced":[46],"back":[47],"sudden":[50],"stop":[51],"occurred":[53],"summer":[56],"1922":[58],"at":[59],"time":[61],"when":[62],"expectations":[63],"economy":[67],"would":[68],"stabilise":[69],"began":[70],"subside.":[72],"The":[73],"reversal":[74],"capital":[76],"flows":[77],"took":[79],"place":[80],"those":[82],"months":[83],"led":[84],"short":[87],"term":[88],"dramatic":[91],"depreciation":[92],"mark,":[95],"significant":[97],"increase":[98],"prices":[100],"decline":[103,107],"output.":[105],"This":[106,119],"sparked":[108],"bitter":[109],"social":[110],"conflict":[111],"fuelled":[113],"wage":[115],"price":[117],"spiral.":[118],"spiral":[120],"was":[121],"accommodated":[122],"authorities,":[125],"leading":[126],"turn":[128],"explosive":[130],"inflation.":[131]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2021,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2020-07-16T00:00:00"}
