The Debt-Inflation Channel of the German (Hyper)Inflation

Markus Brunnermeier; Sergio Correia; Stephan Luck; Emil Verner; Tom Zimmermann (2025) · American Economic Review

Published

October 10, 2026

import sys
from pathlib import Path

ROOT = next(
    p for p in [Path.cwd(), *Path.cwd().parents]
    if (p / "scripts/tranche50_report.py").exists()
)
sys.path.insert(0, str(ROOT / "scripts"))
from tranche50_report import report
report("aeraej-88", tranche="tranche150")

Template assessment

The source Treat1917xPost_L_A is 1917 firm leverage multiplied by the post-inflation indicator. The event study also interacts year with leverage; neither is a binary treatment specification.

No comparison point or homogeneity-test decision is assigned to this paper.