Document Type
Article
Publication Date
2000
Publication Title
Journal of European Economic History
First Page
405
Last Page
427
Additional Publication URL
http://www.jeeh.it/articolo?urn=urn:abi:abi:RIV.JOU:2000;2.405&ev=1
Abstract
From late 1945 through the middle of 1946, Hungary experienced the most gigantic inflation of modern history. But in August 1946, the astronomical price increases stopped, and lasting price stability followed. Indeed, the contrast is so dramatic that it is viewed by some as an economic miracle surpassing even the post-war German Wirschaftswunder.
On the surface, the Hungarian hyperinflation, which witnessed a depreciation of the currency unit, the pengo of about 10-27, seems a kind of madness that raises two interlinked questions: First, how could such a fantastic destruction in the value of a currency take place, and second, what possible motive could anyone have for creating this inflation or at least for allowing it to happen?
Rights
This article was originally published in Journal of European Economic History,2000, Volume 29, Issue 2.
Recommended Citation
Grossman, Peter Z. and Horváth, János, "The Dynamics of the Hungarian Hyperinflation, 1945-6: A New Perspective" (2000). Scholarship and Professional Work - Business. 29.
https://digitalcommons.butler.edu/cob_papers/29
