The impact of notgeld on german hyperinflation in 1914-1923

Abstract

The article focuses on the impact of Notgelds on the inflation processes in Germany in 1914–1923. The process of changing the role of emergency money at different stages of hyperinflation is studied. From the historical point of view, the authors analyzes the use of two currencies in parallel: public and private. It is proved that from an economic point of view, private money was much more stable and better protected during hyperinflation.The issues discussed in the article are highly relevant in modern contexts, as the formation of economies with a relative surplus of money has become a characteristic feature of many countries today. Equally important are the challenges of determining the value and nature of money, as well as analyzing the relationship between the volume of money supply and changes in the overall economic situation. The methods for combating inflation and implementing effective policies to stabilize the German currency, as outlined in the article, are successfully applied in the contemporary Ukrainian economy.