War finance, reconstruction, hyperinflation and stabilization in Hungary, 1938-1948

Author(s)

• Siklos, Pierre L.
• St. Antony's College (University of Oxford)

Bibliographic Information

War finance, reconstruction, hyperinflation and stabilization in Hungary, 1938-1948

Pierre L. Siklos

（St. Antony's/Macmillan series）

Macmillan in association with St Antony's College, Oxford, 1991

Note

Bibliography: p. 260-275

Includes index

Description and Table of Contents

Description

A blend of history and econometric analysis, this book examines the causes and consequences of the hyperinflation that overwhelmed the Hungarian economy between 1945 and 1948. The book starts with a consideration of the War Finance initiated in 1938 and ends with the stabilization measures of 1948.

Table of Contents

• Part 1 Introduction and summary: war finance
• the economic cosequence of the Second World War
• hyperinflation
• stabilization
• why study the Hungarian hyperinflation?
• the framework of the analysis
• plan of the book. Part 2 The basic data: prewar data
• data from the hyperinflation period
• money supply and government debt
• prices
• unemployment and output
• data from the stabilization period. Part 3 Hungary and the German War economy: Hungary's dilemma
• supplying the German war economy
• conclusions. Part 4 The Gyori program and its macroeconomic consequences: introduction
• the Gyori program
• the credibility of the Gyori program
• monetary policy and inflation , 1938-44
• the impact of the Gyori program on the labour market
• conclusions. Part 5 The end of the war and the financial toll of reconstruction: the end of the war and its financial toll
• reparations. Part 6 State finances and peacetime economic prospects: introduction
• a difficult beginning
• the inevitability of the inflation tax
• the influence of politics in the choice of policies
• reparations and reconstruction
• conclusions. Part 7 Attempts to control inflation: the three phases of the hyperinflation
• the tax on the Pengo
• the Pengo indexation experiment
• "Calory" wages
• the role and significance of alternative transaction media. Part 8 Monetary and fiscal policy during the hyperinflation: a statistical overview of the hyperinflation
• money and prices
• demand for money and inflationary expectations
• does the hyperinflation constitute a homogeneous period?
• policy expectations and the demand for money
• the links between monetary policy and inflation
• the tax 'pengo' period and the final acceleration of inflation
• conclusions. Part 9 The end of hyperinflation and its consequences: introduction
• a quick end to the hyperinflation?
• the credibility of the stabilization of August 1946
• monetary following stabilization
• demand for money
• prices, money supply, and government debt
• policy influence on inflation
• economic costs of price stability
• relative price effects
• employment and unemployment
• output and productivity
• summary and conclusions. Part 10 The lessons to be learned from the hyperinflation and its termination: introduction
• supply side influences
• the role of credibility
• applicability to other inflations
• unemployment
• indexation
• concluding remarks. Appendix A: historical statistics 1938-48
• daily data - 1945-46
• weekly data - 1945-48
• monthly data - 1938-48. Appendix B: additional statistical results
• endnotes
• bibliographic abbreviations
• references
• glossary of selected terms
• index.

by "Nielsen BookData"

Details

• NCID: BA12320625
• ISBN:
  • 0333525868
• Country Code: uk
• Title Language Code: eng
• Text Language Code: eng
• Place of Publication: Basingstoke
• Pages/Volumes: xx, 281 p.
• Size: 22 cm
• Classification:
  • LCC : HC300.24
  • DC20 : 330.943905
• Subject Headings:
  • PRECIS : Hungary. Economic conditions, history
  • LCSH : Hungary -- Economic conditions
• Parent Bibliography ID:
  • BA00158246