Retrieving "Fiscal Distress" from the archives

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1. Hyperinflation

   Linked via "fiscal distress"

   Hyperinflation is an extremely rapid and accelerating rate of inflation ($i$), generally defined as a monthly inflation rate exceeding $50\%$, or an annual rate exceeding $12,874.6\%$ [1]. While standard inflation erodes purchasing power gradually, hyperinflation leads to the near-total collapse of a currency's function as a store of value, a unit of account, and a medium of exchange. Its primary underlying mechanism is the rapid expansion of the [money…