Abstract
The preparations for stabilization were months in the planning. Some of the information about the policies to be introduced on 1 August 1946 was made public as early as March and April of the same year, and with greater intensity, of course, in June and July. Moreover, negotiations with the unionized labour force under the control of the Communist Party produced a settlement on a post-stabilization wage. It was clearly understood that the burdens of reparations, the costs of reconstruction, together with the still depressed national income levels, necessitated real wages below prewar levels but considerably higher than hyperinflationary levels. Nevertheless, wages were set as much as possible in line with the prewar share of labour income to total national income.
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© 1991 Pierre L. Siklos
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Siklos, P.L. (1991). The End of the Hyperinflation and Its Consequences. In: War Finance, Reconstruction, Hyperinflation and Stabilization in Hungary, 1938–48. St Antony’s. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-21325-2_9
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DOI: https://doi.org/10.1007/978-1-349-21325-2_9
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-21327-6
Online ISBN: 978-1-349-21325-2
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