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The Hungarian 1945-1946 hyperinflation

Author

Listed:
  • Georges Hegedus

    (Escola de Administração de Empresas de São Paulo da Fundação Getúlio Vargas, São Paulo/SP, Brasil.)

Abstract

This paper provides a description of the Hungarian hyper-inflation in the periodimmediately after World War II. It is shown that the inflationary process started with thenecessity of financing the high costs of the war effort. After the war, the reduction of productioncapacity, reparation payments, and the large government deficit provided the factors forthe rapid growth of the rate of inflation. Reference is made to the unsuccessful effort to introducean indexed currency. The stabilization process is seen as a result of careful planningand a very harsh redistribution of income among the various social classes. JEL Classification: E31; N14.

Suggested Citation

  • Georges Hegedus, 1986. "The Hungarian 1945-1946 hyperinflation," Brazilian Journal of Political Economy, Center of Political Economy, vol. 6(2), pages 223-236, April.
    • Handle: RePEc:ekm:repojs:v:6:y:1986:i:2:id:96494
    DOI: 10.1590/0101-31571986-2057
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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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