O excesso de liquidez e as reformas monetárias européias - 1944-52

Resumo

The authoi describes, classifles, and evaluates 24 cases of monetary reforms in
post-war Europe. Reforms of type one consisted in the compulsory exchange of existing
liquíd assets for new notes at variable rates o f exchanges, a process which reduced liquidity.
Reforms of type two used the technique of a tempotary blocking of liquid assets, also
resulting in liquidity-squeeze. Reforms of type three were a combination of the two
prevíous cases. The first type was mainly used in countries under the Soviet orbít while
the second, the most frequent, was applied mostly in Western countries. General results
conceming their antí-inflationary aims and other objectives are analysed.