Abstract
Price stability shares with a healthy knee a particular feature: both are precious, but you do not realize how much until you miss them. When you run, your knees perform amazing functions, without you even being aware of them. That is price stability. Under some circumstances, one of your knees may be under some stress and you may be forced to use medication to be able to run well. While you run, you are aware of your knee. That is inflation. Eventually, your knee hurts so much you can only walk. That is high inflation. Finally, in the worst case, your knee is broken and you must lie in bed. That is hyperinflation.
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Nicolini, J.P. (2010). Hyperinflation. In: Durlauf, S.N., Blume, L.E. (eds) Monetary Economics. The New Palgrave Economics Collection. Palgrave Macmillan, London. https://doi.org/10.1057/9780230280854_15
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DOI: https://doi.org/10.1057/9780230280854_15
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