“Weimar on the Volga”: Causes and Consequences of Inflation in 1990s Russia Compared with 1920s Germany
比较了魏玛德国和后苏联俄罗斯的通货膨胀经历,运用货币与政府预算约束理论,分析两次通胀危机的政治和社会后果,指出俄罗斯可能尚未摆脱货币与政治困境。
This article offers a comparative analysis of the inflationary exeriences of Weimar Germany and post-Soviet Russia, applying theories about money and government budget constraints in the manner of Thomas Sargent and François Velde. The comparison looks beyond economic policy itself to the political and social consequences of the two inflationary crises. The parallel is fairly close: close enough to suggest that Russia, despite its recent quiescence, may not have seen the end of its monetary—or political—travails.