References Bank for International Settlements (1999): “The monetary and regulatory implications of changes in the banking industry”. BIS Conference Papers, Vol 7, March. Bank for International Settlements (1998a): 68th Annual Report, June. Bank for International Settlements (1998b): International banking and financial market developments, August. Bank for International Settlements (1997): 67th Annual Report, June.
The monograph has to be seen against the background of decades of worldwide inflation. Hayek himself mentioned the great German inflation of 1923. After the second World War, prices had moved worldwide only in one direction.