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Uncertainty and Hyperinflation: European Inflation Dynamics After World War I
FEDERAL RESERVE BANK OF SAN FRANCISCO WORKING PAPER SERIES Uncertainty and Hyperinflation: European Inflation Dynamics after World War I Jose A. Lopez Federal Reserve Bank of San Francisco Kris James Mitchener Santa Clara University CAGE, CEPR, CES-ifo & NBER June 2018 Working Paper 2018-06 https://www.frbsf.org/economic-research/publications/working-papers/2018/06/ Suggested citation: Lopez, Jose A., Kris James Mitchener. 2018. “Uncertainty and Hyperinflation: European Inflation Dynamics after World War I,” Federal Reserve Bank of San Francisco Working Paper 2018-06. https://doi.org/10.24148/wp2018-06 The views in this paper are solely the responsibility of the authors and should not be interpreted as reflecting the views of the Federal Reserve Bank of San Francisco or the Board of Governors of the Federal Reserve System. Uncertainty and Hyperinflation: European Inflation Dynamics after World War I Jose A. Lopez Federal Reserve Bank of San Francisco Kris James Mitchener Santa Clara University CAGE, CEPR, CES-ifo & NBER* May 9, 2018 ABSTRACT. Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in pushing a subset of European countries into hyperinflation shortly after the end of the war. Germany, Austria, Poland, and Hungary (GAPH) suffered from frequent uncertainty shocks – and correspondingly high levels of uncertainty – caused by protracted political negotiations over reparations payments, the apportionment of the Austro-Hungarian debt, and border disputes. In contrast, other European countries exhibited lower levels of measured uncertainty between 1919 and 1925, allowing them more capacity with which to implement credible commitments to their fiscal and monetary policies. -
Survey of Current Business October 1924
MONTHLY SUPPLEMENT TO COMMERCE REPORTS UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS OCTOBER, 1924 No. 38 COMPILED BY BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS IMPORTANT NOTICE In addition to figures given from Government sources9 there are also incorporated for completeness of service figures from other sources generally accepted by the trades, the authority and responsibility for which are noted in the "Sources of data9' at the end of this number Subscription price of the SURVEY OF CURRENT BUSINESS is* $1.50 a year; single copies (monthly), 10 cents, quarterly issues, 20 cents. Foreign subscriptions, $2.25; single copies (monthly issues) including postage, 14 cents, quarterly issues, 31 cents. Subscription price of COMMERCE REPORTS is $4 a year; with the Survey, $5.50 a year. Make remittances only to Superintendent of Documents, Washington, D. C, by postal money order, express order, or New York draft. Currency at sender's risk. Postage stamps or foreign money not accepted. ^v - WASHINQTON : GOVERNMENT PRINTING OFFICE : 1994 INTRODUCTION The SURVEY OF CURRENT BUSINESS is designed to period has been chosen. In a few cases other base present each month a picture of the business situation periods are used for special reasons. In all cases the by setting forth the principal facts regarding the vari- base period is clearly indicated. ous lines of trade and industry. At quarterly intervals The relative numbers are computed by allowing the detailed tables are published giving, for each item, monthly average for the base year or period to equal monthly figures for the past two years and yearly com- 100. -
Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945
Records of the Immigration and Naturalization Service, 1891-1957, Record Group 85 New Orleans, Louisiana Crew Lists of Vessels Arriving at New Orleans, LA, 1910-1945. T939. 311 rolls. (~A complete list of rolls has been added.) Roll Volumes Dates 1 1-3 January-June, 1910 2 4-5 July-October, 1910 3 6-7 November, 1910-February, 1911 4 8-9 March-June, 1911 5 10-11 July-October, 1911 6 12-13 November, 1911-February, 1912 7 14-15 March-June, 1912 8 16-17 July-October, 1912 9 18-19 November, 1912-February, 1913 10 20-21 March-June, 1913 11 22-23 July-October, 1913 12 24-25 November, 1913-February, 1914 13 26 March-April, 1914 14 27 May-June, 1914 15 28-29 July-October, 1914 16 30-31 November, 1914-February, 1915 17 32 March-April, 1915 18 33 May-June, 1915 19 34-35 July-October, 1915 20 36-37 November, 1915-February, 1916 21 38-39 March-June, 1916 22 40-41 July-October, 1916 23 42-43 November, 1916-February, 1917 24 44 March-April, 1917 25 45 May-June, 1917 26 46 July-August, 1917 27 47 September-October, 1917 28 48 November-December, 1917 29 49-50 Jan. 1-Mar. 15, 1918 30 51-53 Mar. 16-Apr. 30, 1918 31 56-59 June 1-Aug. 15, 1918 32 60-64 Aug. 16-0ct. 31, 1918 33 65-69 Nov. 1', 1918-Jan. 15, 1919 34 70-73 Jan. 16-Mar. 31, 1919 35 74-77 April-May, 1919 36 78-79 June-July, 1919 37 80-81 August-September, 1919 38 82-83 October-November, 1919 39 84-85 December, 1919-January, 1920 40 86-87 February-March, 1920 41 88-89 April-May, 1920 42 90 June, 1920 43 91 July, 1920 44 92 August, 1920 45 93 September, 1920 46 94 October, 1920 47 95-96 November, 1920 48 97-98 December, 1920 49 99-100 Jan. -
'Olony and Protectorate of Kenya
THE OFFICIAL GAZETTE OF THE ‘OLONY AND PROTECTORATE OF KENYA. Published under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya. (Vol. XXVI.—No. 952| NATROBI, June 1], 1924.. [Price 50 Cents| Registered as a Newspaper at the G. P. 0. | Published every Wednesday. TABLE OF CONTENT S. PAGE. (to vt, ” Notice No. 203—Arrivals, Departures and Appointments, etc. a 534 x 2 ” 204—A Bill Intituled An Ordinance to Amend the Divorce Ordinance, 1908 hae 539 Proclamation No, 100—The Customs Ordinance, 1910,Proclamation. 536 Govt. Notice No. 205— ,, » Do » ules 536 536 33 a7 33 206—The Liquor (Amendment) Ordinance, 1923,— Plateau Licensing Area 33 33 a2 207—Confirmation of Ordinances—XXIT and XXXVI of 1923 537 Proclamation No. 101—-The Diseases of Animals Ordinance, 1906 5387 102—The Diseases of Animals Ordinance, 1906 ” 33 3 537 103——-The Diseases of Ai imals Ordinance, 1906 3) 33 ” 537 ” ” 23 104—The Diseases of Animals Ordinance, 1906 538 Govt. Notice No. 208—The Liquor (Amendment) Ordinance, 19238Appointment of Members of Plateau Licensing Court . 538 33 a3 33 209-——The Commission of Inquiry Ordinance, 1912Appointment 538 oy 9 210—The Municipal Corporations Ordinance, 1922-—-Appointment 538 a 3} 3? 211—The Liquor (Amendment) Ordinance, 1923 539 539 af a) a) 212—-Executive Council_—Appoimtment 539 at a? 32 213—The Native Registration Ordinance, 1921—Appointment... 214— ” ” » 1921—Appoimtment 539 3} oe] 7 M2 ” 215—The Native Authority Ordinance, 1912,—Appointment 539 Gen. Notices Nos. 450-462—Miscellaneous Notices .. 009-042 534 THE OFFICIAL GAZETTE June 11, 1924, GOVERNMENT Notice No. -
Thirty-Second Annual List of Papers
1923.] LIST OF PUBLISHED PAPERS 485 THIRTY-SECOND ANNUAL LIST OF PAPERS READ BEFORE THE AMERICAN MATHEMATICAL SOCIETY AND SUBSEQUENTLY PUBLISHED, INCLUDING REFERENCES TO THE PLACES OF PUBLICATION ALEXANDER, J. W. A proof and extension of the Jordan-Brouwer separa tion theorem. Read April 29, 1916. Transactions of this Society, vol. 23, No. 4, pp. 333-349; June, 1922. Invariant points of a surface transformation of given class. Read Dec. 28, 1922. Transactions of this Society, vol. 25, No. 2, pp. 173- 184; April, 1923. BARNETT, I. A. Differential equations with a continuous infinitude of variables. Read Dec. 28, 1918. American Journal of Mathematics, vol. 44, No. 3, pp. 172-190; July, 1922. Linear partial differential equations with a continuous infinitude of variables. Read Dec. 28, 1918, and April 24, 1920. American Journal of Mathematics, vol. 45, No. 1, pp. 42-53; Jan., 1923. BELL, E. T. On restricted systems of higher indeterminate equations. Read (San Francisco) June 18, 1920. Transactions of this Society, vol. 22, No. 4, pp. 483-488; Oct., 1921. Anharmonic polynomial generalizations of the numbers of Bernoulli and Euler. Read (San Francisco) April 9, 1921. Transactions of this Society, vol. 24, No. 2, pp. 89-112; Sept., 1922. Periodicities in the theory of partitions. Read (San Francisco) April 8, 1922. Annals of Mathematics, (2), vol. 24, No. 1, pp. 1-22; Sept., 1922. Relations between the numbers of Bernoulli, Euler, Genocchi, and Lucas. Read (San Francisco) April 8, 1922. Messenger of Mathe matics, vol. 52, No. 4, pp. 56-64, and No. 5, pp. 65-68; Aug. -
Federal Reserve Bulletin August 1925
FEDERAL RESERVE BULLETIN AUGUST, 1925 ISSUED BY THE FEDERAL RESERVE BOARD AT WASHINGTON Position of the Reserve Banks at Mid-Year Business Conditions in the United States Report of the Agent General for Reparation Payments WASHINGTON GOVERNMENT PRINTING OFFICE 1925 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FEDERAL RESERVE BOARD Ex officio members: D. R. CRISSINGER, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, Secretary of the Treasury, Chairman. ADOLPH G. MILLER. CHARLES S. HAMLIN. J. W. MCINTOSH, GEORGE R. JAMEB. Comptroller of the Currency. EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. WALTER WYATT, General Counsel. J. C. NOELL, Assistant Secretary. WALTER W. STEWART, Director, Division of Research W. M. IMLAY, Fiscal Agent. and Statistics, J. F. HERSON, E. A. GOLDENWEISER, Assistant Director, Division of Chief, Division of Examination, and Chief Federal Research and Statistics. Reserve Examiner. E. L. SMEAD, Chief, Division of BanVOperations. FEDERAL ADVISORY COUNCIL District No. 1 (BOSTON) CHAS. A. MORSS. District No. 2 (NEW YORK) PAUL M. WARBURG, President, District No. 3 (PHILADELPHIA) L. L. RUE. District No. 4 (CLEVELAND) GEORGE A. COULTON. District No. 5 (RICHMOND) JOHN M. MILLER, Jr. District No. 6 (ATLANTA) OSCAR WELLS. District No. 7 (CHICAGO) FRANK O. WETMORE. District No. 8 (ST. LOUIS) BRECKINRIDGE JONES. District No. 9 (MINNEAPOLIS) G. H. PRINCE. District No. 10 (KANSAS CITY) E. F. SWINNEY, Vice President, District No. 11 (DALLAS) W. M. MCGREGOR. District No. 12 (SAN FRANCISCO).-: HENRY S. MCKEE. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OFFICERS OF FEDERAL RESERVE BANKS Federal Reserve Bank of— Chairman Governor Deputy governor Cashier Boston. -
Volume 41, Number 02 (February 1923) James Francis Cooke
Gardner-Webb University Digital Commons @ Gardner-Webb University The tudeE Magazine: 1883-1957 John R. Dover Memorial Library 2-1-1923 Volume 41, Number 02 (February 1923) James Francis Cooke Follow this and additional works at: https://digitalcommons.gardner-webb.edu/etude Part of the Composition Commons, Ethnomusicology Commons, Fine Arts Commons, History Commons, Liturgy and Worship Commons, Music Education Commons, Musicology Commons, Music Pedagogy Commons, Music Performance Commons, Music Practice Commons, and the Music Theory Commons Recommended Citation Cooke, James Francis. "Volume 41, Number 02 (February 1923)." , (1923). https://digitalcommons.gardner-webb.edu/etude/698 This Book is brought to you for free and open access by the John R. Dover Memorial Library at Digital Commons @ Gardner-Webb University. It has been accepted for inclusion in The tudeE Magazine: 1883-1957 by an authorized administrator of Digital Commons @ Gardner-Webb University. For more information, please contact [email protected]. 4 ETUDE MUSIC MAGAZINE FEBRUARY, 1923 A Wealth of Rewards For Your Spare Time Just a little enthusiastic time spent in get¬ Thousands Have Done Everybody Needs Some ting new subscriptions for ETUDE MUSIC This for Years of MAGAZINE will bring them to you without Why Not YOU ? These Premiums one penny outlay. For Three New Subscriptions O’CEDAR MOP. WATER^^: PROOF APRON,i?ub8Criplion neat and attractive. I YourOwn Subscription FREE Our Most Popular Premium LAVALLIERE—solid gold, large amethyst and THREE PIECE SHIRTWAIST SET—consists 4 pearls with baroque pearl pendant. of bar pin and two small pins—gold filled, Send three subscriptions at $2.00 each ($6.00 in all) and very popular. -
August 1925) James Francis Cooke
Gardner-Webb University Digital Commons @ Gardner-Webb University The tudeE Magazine: 1883-1957 John R. Dover Memorial Library 8-1-1925 Volume 43, Number 08 (August 1925) James Francis Cooke Follow this and additional works at: https://digitalcommons.gardner-webb.edu/etude Part of the Composition Commons, Ethnomusicology Commons, Fine Arts Commons, History Commons, Liturgy and Worship Commons, Music Education Commons, Musicology Commons, Music Pedagogy Commons, Music Performance Commons, Music Practice Commons, and the Music Theory Commons Recommended Citation Cooke, James Francis. "Volume 43, Number 08 (August 1925)." , (1925). https://digitalcommons.gardner-webb.edu/etude/726 This Book is brought to you for free and open access by the John R. Dover Memorial Library at Digital Commons @ Gardner-Webb University. It has been accepted for inclusion in The tudeE Magazine: 1883-1957 by an authorized administrator of Digital Commons @ Gardner-Webb University. For more information, please contact [email protected]. MVSIC ffETVDE MAG A ZINE Price 25 cents AUGUST, 1925 $2.00 a Year MODERN REVELATIONS IN PIANO TECHNIC, E. ROBERT SCHMITZ 1 HE ETUDE AUGUST Plano Teaching Material Recently Issued Study Material of Various Grades BILBRO’S KINDERGARTEN BOOK FIRST PIANO LESSONS AT HOME GOLDEN MEMORIES 5s;£Si=?fc wh£S look J=Sfe i® giliiii! SHORT STUDY PIECES SHORT MELODY ETUDES ETUDES MINIATURES Wlmim SIX STUDY PIECES FOR THE WSHMB: TEN BUSY FINGERS DEVELOPMENT OF THE WRIST SIX STUDY PIECES IN THIRDS Biite ETUDES DE STYLE SIXTEEN RECITAL ETUDES MELODIOUS ELEMENTARY mSm .1.H S PLAY AND SPORT TOUCH AND TONE 40 SECOND ANDTHgD GRADE STUDY INTERMEDIATE STUDY PIECES By A. -
Field Expedition Records, 1914, 1923-1942
Field Expedition Records, 1914, 1923-1942 Finding aid prepared by Smithsonian Institution Archives Smithsonian Institution Archives Washington, D.C. Contact us at [email protected] Table of Contents Collection Overview ........................................................................................................ 1 Administrative Information .............................................................................................. 1 Descriptive Entry.............................................................................................................. 1 Names and Subjects ...................................................................................................... 1 Container Listing ............................................................................................................. 3 Field Expedition Records http://siarchives.si.edu/collections/siris_arc_238795 Collection Overview Repository: Smithsonian Institution Archives, Washington, D.C., [email protected] Title: Field Expedition Records Identifier: Accession 02-051 Date: 1914, 1923-1942 Extent: 10.69 cu. ft. (19 document boxes) (2 half document boxes) (1 16x20 box) Creator:: Freer Gallery of Art Language: Language of Materials: English Administrative Information Prefered Citation Smithsonian Institution Archives, Accession 02-051, Freer Gallery of Art, Field Expedition Records Descriptive Entry This accession consists of records documenting the joint expedition made by the Freer Gallery of Art and the Museum of Fine Arts, Boston, from February 20, -
Official Gazette Colony and Protectorate of Kenya
THE OFFICIAL GAZETTE OF THE COLONY AND PROTECTORATE OF KENYA. Published under the Authority of His Excellency the Governor of the Colony and Protectorate of Kenya. [Vol. XXVL—No. 922] NATROBI, January 2, 1924. [Prices 50 Cenrs] Registered as a Newspaper ai the G. P. 0. Published every Wednesday. TABLE OF CONTENTS. PAGE Govt. Notice No, 1—Appointments ves vee ves .. wes vee 2 » 0 ’ 2—A. Bill intituled an Ordinance to Amend the Legislative Conncil Ordinance, 1919 ce Le . Lee . BA4 ” ” ” 3—A Bill intituled an Ordinance to Amend the Native Liquor Ordinance, 1921 wee vee a Lee vee 4 Proclamation No, 1—The Kenya and Uganda (Currency) Order, 1921... vee bee 4 Proclamation No. : 2—The Diseases of Animals Ordinance, 1906 . 5 Govt. Notice No. 4——-Public Health Ordinance, 1921—Notiee ... a vee wes 5 »»» 5-6—The Native Authority Ordinance, 1912—Appointments of Oficial Headmen bee Lee Le ves vee vee 3 Gen. Notices Nos. 1-11—Miscellaneeus Notices ... ve Lee i _ we 5H 2 THE OFFICIAL GAZETTE January 2, 1924. Government Notice No. 1. APPOINTMENTS. W. McHarpy, 0.B.E., M.A., to be Superintendent (Admin- 5. 18816 /930. istrative), Uganda Railway, with effect from Ist January, Guorce Eenest Scarrercoop, to be Accountant, Medical 1924. Department, with effect from the 24th July, 1923. _ A. G. Hicerns, to be Secretary to the Railway Council and CG. M. Bunsury, to be Senior District Engineer, Uganda Private Secretary to the General Manager, Uganda Rail- Railway, with effect from Ist January, 1924. way, with effect from Ist January, 1924. -
Federal Reserve Bulletin December 1925
FEDERAL RESERVE BULLETIN DECEMBER, 1925 ISSUED BY THE FEDERAL RESERVE BOARD AT WASHINGTON Recent Banking Developments Business Conditions in the United States The New Central Bank of Chile WASHINGTON GOVERNMENT PRINTING OFFICE 1925 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FEDERAL RESERVE BOARD Ex officio members: D. R. CRISSINGEE, Governor. EDMUND PLATT, Vice Governor. A. W. MELLON, Secretary of the Treasury, Chairman. ADOLPH C. MILLER. CHARLES S. HAMLIN. J. W. MCINTOSH, GEORGE R. JAMES. Comptroller of the Currency. EDWARD H. CUNNINGHAM. WALTER L. EDDY, Secretary. WALTER WYATT, General Counsel. J. C. NOELL, Assistant Secretary. WALTER W. STEWART, Director, Division of Research W. M. IMLAY, Fiscal Agent. and Statistics. J. F. HERSON, E. A. GOLDENWEISER, Assistant Director, Division of Chief, Division of Examination, and Chief Federal Research and Statistics. Reserve Examiner. E. L. SMEAD, Chief, Division of Bank Operations. FEDERAL ADVISORY COUNCIL District No. 1 (BOSTON) CHAS. A. MORSS. District No. 2 (NEW YORK) PAUL M. WARBURG, President. District No. 3 (PHILADELPHIA) L. L. RUE. District No. 4 (CLEVELAND) GEORGE A. COULTON. District No. 5 (RICHMOND) JOHN M. MILLER, Jr. District No. 6 (ATLANTA) OSCAR WELLS. District No. 7 (CHICAGO) FRANK O. WETMORE. District No. 8 (ST. LOUIS) BRECKINRIDGE JONES. District No. 9 (MINNEAPOLIS) G. H. PRINCE. District No. 10 (KANSAS CITY) > E. F. SWINNEY, Vice President. District No. 11 (DALLAS)-. .-.-—-. W. M. MCGREGOR. District No. 12 (SAN FRANCISCO) __—.-*. HENRY S. MCKEE. II Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OFFICERS OF FEDERAL RESERVE BANKS Federal Reserve Bank of— Chairman Governor Deputy governor Cashier Boston . -
Tuesday, 5 December 1922 Various Resolutions; Election of ECCI; Close of Congress
Session 32 – Tuesday, 5 December 1922 Various Resolutions; Election of ECCI; Close of Congress The Norwegian question. Resolution on the terror in Ire- land. Question of the Versailles Peace Treaty. Tactics of the Communist International. The Eastern question. Edu- cational work. France. Resolution on the Russian Revolu- tion. Election of the Executive Committee. Closing speech by Zinoviev. Speakers: Haakon Meyer, Connolly, Hoernle, Bor- diga, Clara Zetkin, Kolarov, Billings, Grün, Torp, Kolarov, Zinoviev Convened: 6:50 p.m. Chairperson: Neurath Haakon Meyer (Norway): The majority of the Nor- wegian delegation states that it is not happy with the proposed resolution. A number of its points do not reflect our views. In some cases, we believe that the Commission has handled specific matters in too abstract and schematic a fashion. This applies, for example, to the cases of Halvard Olsen and Karl Johanssen. As for the latter point, a proposal had been made by the entire delegation to formulate this differ- ently, but it was rejected by the Commission. In other cases, we believe that the resolution is insufficiently objective. That applies to the point concerning Mot Dag, which, in our opinion, is not a closed group, and also for Point 4 [of the resolution], which deserves criticism. 1094 • Session 32 – 5 December 1922 However, after thorough discussion of all the disputed questions in the Commission, we will not initiate further debate in the plenary, but, rather, state that the majority of the delegation will vote for the resolution. Chair: We will now take the vote on the resolution proposed by the Norwegian Commission.