Cagan, Phillip

Phillip Cagan was an influential economist best known for his work on analyzing hyperinflation, which is an extremely rapid and uncontrolled increase in prices. He employed detailed economic data to understand how such monetary crises develop and impact economies. Cagan’s research provided valuable tools for policymakers to recognize early signs of hyperinflation and to design measures to stabilize prices. His analytical framework remains foundational in monetary economics, especially in assessing economic stability and designing inflation control policies.