The Four Ends of the Greek Hyperinflation of 1941-1946 Book

The book places emphasis on policy decision making in Greece which resulted in an extraordinarily long 56 months hyperinflation. Throughout the entire period, the government of Greece was financed mainly from seigniorage, and barely at all from fiscal taxation. It was of particular interest to the author to find out how this was contrived over so long a period without destroying the tax-base afforded by the transactions demand for fiat money." "The book explores the history and structural basis for the policies pursued by the occupation and liberation governments of Greece, and their interactions with the policies of the Axis and, later, British authorities. For sources, the work draws heavily not only on the existing literature but also on the Bank of England and British Treasury papers of the period.