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David Barkhausen

20 June 2025
THE ECB BLOG
Memories of hyperinflation live on in public debates on money. In the case of Germany, the trauma of 1923 is widely seen as the source of the country’s preference for fiscal discipline and stability-oriented central banking. Historical analysis sheds new light on the collective memory and its genesis.
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JEL Code
B29 : History of Economic Thought, Methodology, and Heterodox Approaches→History of Economic Thought since 1925→Other